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January-March  1985 


No.  54 


Rare  Coin  Review 

Bowers  and  Merena  Galleries,  Inc.  Box  1224  Wolfeboro,  NH  03894  (603)  569-5095 


Coin  Quiz  Contest 


& 


i  * 

•  (Ev 


9. 


See  page  35  for  details  and  instructions  for  the  Coin  Quiz. 


Tom  Becker 


"Enjoyment  and  happiness  are  two  goals  that  most  of 
us  strive  for  in  our  lives.  Indeed,  the  Constitution  of  the 
United  States  guaranteed  American  citizens  the  right  to  "life, 
liberty,  and  the  pursuit  of  happiness."  While  the  investment 
performance  of  selected  rare  coins  over  the  past  two 
decades  is  nothing  less  than  incredible,  investment  is  just 
one  aspect  of  coins.  An  equally  important  aspect,  in  our 
opinion,  is  that  of  enjoyment— the  happiness  of  owning 
something  which  is  at  once  unusual,  desirable,  and  rare. 

An  article  in  this  issue,  "Reflections  on  a  Connecticut 
Pond,"  by  Dave  Bowers,  tells  about  an  old-time  collector, 
now  deceased,  whom  Dave  used  to  visit.  While  a  coin  tran¬ 
saction  was  a  part  of  each  visit,  Dave's  memories  do  not 
dwell  on  this  point— for  heaven  knows  he  has  been  involved 
in  more  coin  transactions  than  he  can  possibly  remember. 
Rather,  the  emphasis  is  on  the  enjoyment  the  collector  ex¬ 
perienced  while  gathering  the  coins,  and  the  happiness 
numismatics  brought  him  and  his  family. 

Here  at  Bowers  and  Merena  Galleries  we  have  pledged 
to  spend  no  less  than  $250,000  during  1985  to  further 
numismatic  education.  This  will  take  the  form  of  several  dif¬ 
ferent  book  titles  now  being  worked  on  by  Dave  Bowers, 
heralded  by  his  awaited  volume  on  three-cent  and  five-cent 
pieces,  then  probably  followed  by  a  book  on  colonial  and 
early  American  issues,  then  followed  by  other  titles.  There 
is  little  enjoyment  to  be  derived  from  buying  an  1820  large 
cent,  for  example,  for  a  given  figure,  looking  at  it  briefly, 
and  then  tucking  it  away  in  a  safe  deposit  box  not  to  be 
s#*en  for  many  years.  We  propose  that  it  is  far  more  in¬ 


teresting  to  take  out  a  magnifying  glass,  study  it  in  detail, 
note  how  the  figures  of  the  date  are  formed,  observe  the 
curls  in  the  hair,  check  out  the  position  of  the  letters,  and 
so  on.  Then,  such  a  piece  should  be  researched.  Can  you 
learn  who  designed  it?  What  were  the  operations  of  the 
United  States  Mint  like  back  in  1820?  What  other  pieces 
in  addition  to  large  cents  were  made  during  the  same  year? 
How  did  their  designs  differ?  In  your  mind's  eye  what  would 
a  visit  to  the  Mint  have  been  like  back  in  1 820?  Investigate 
the  answers  to  these  questions,  and  all  of  the  sudden  an 
1 820  large  cent  becomes  something  that  is  alive,  something 
that  has  a  personality,  something  that  is  infinitely  fascinating. 

In  today's  world  there  are  many  problems.  All  one  has 
to  do  is  to  turn  on  the  TV  set,  pick  up  the  newspaper,  or 
tune  in  the  radio  to  find  this  unfavorable  situation  or.that. 
Some  situations— the  threat  of  nuclear  war,  for  example- 
are  new  to  the  present  generation.  Others  have  been  with 
us  for  decades  if  not  centuries.  "The  human  predicament" 
has  been  discussed  endlessly  in  print.  How  do  you  view 
"the  pursuit  of  happiness"?  Do  you  enjoy  what  you  do  in 
your  spare  time?  Do  you  have  a  hobby  that  is  truly  fulfill¬ 
ing?  If  you  are  involved  in  coins— then  chances  are  good 
that  you  at  least  have  the  interest  or  you  would  not  be 
reading  this  Rare  Coin  Review.  Are  you  "riding  the  hob¬ 
by"  to  its  best  advantage,  or  are  you  being  bogged  down 
by  worrying  whether  this  coin  might  have  a  slight  grade  dif¬ 
ference  from  that  one,  or  whether  the  piece  you  bought 
for  $100  a  few  months  ago  will  be  worth  $95,  $1 10,  or  $200 
the  year  after  next?  Some  philosophy  on  the  "riding  a  hob¬ 
by"  subject  was  penned  by  Robert  K.  Botsford  in  November 
1 935,  a  half  century  ago.  His  observations,  printed  on  page 
28  of  the  present  Review  issue,  are  still  valid  today.  Read 
them  and  think  about  them.  Then  think  if  you  are  missing 
something— or  whether  you  are  enjoying  numismatics  for 
all  numismatics  can  offer.  Dave  Bowers  came  across  the 
article  while  researching  the  biography  of  Lee  F.  Hewitt, 
proprietor  of  the  Numismatic  Scrapbook  Magazine ,  whose 
coins  we  sold  at  auction  on  November  14.  He  considered 
them  so  interesting  that  he  submitted  them  to  The 
Numismatist ,  official  journal  of  the  American  Numismatic 
Association,  so  you  may  have  seen  the  Botsford  article  there 
as  well.  Robert  Botsford,  by  the  way,  was  a  client  of  our 
firm— more  accurately,  the  predecessor  to  our  firm— many 
decades  ago.  In  the  1950s  he  supplied  Dave  Bowers  with 
many  pattern  coins,  including  rare  issues  of  1896,  which 
had  been  obtained  from  the  estate  of  William  H.  Woodin, 
who  used  to  maintain  a  residence  near  Mr.  Botsford's  Penn¬ 
sylvania  home. 

The  rare  coin  market  moves  in  cycles.  Years  ago  the 
cycles  were  less  pronounced.  Today  they  are  more  visible. 
We  are  all  familiar  with  the  price  peak  achieved  in 
1979-1980.  Due  to  several  considerations,  the  prices  of  cer¬ 
tain  coins  rose  to  unprecedented  highs.  Since  then  they 
have  subsided  sharply.  The  result  is  a  buying  opportunity 
in  many  series  and  in  many  grades  of  coins.  Coin  prices 
charted  over  the  past  century  have  shown  a  strong  trend 
upward,  punctuated  by  peaks  and  valleys.  Twenty  years  ago 
when  the  market  peaked  in  1964-1965,  few  thought  that 
the  record  high  prices  would  ever  be  achieved  again,  let 
alone  exceeded,  after  price  levels  fell  back.  Indeed,  there 
are  a  few  stray  pieces  that  have  never  achieved  those 


-2 


levels— the  1950-D  nickel  being  an  example  (which  sold  for 
as  high  as  $1,200  per  roll  at  the  time).  But,  for  every  1950-D 
nickel  that  has  not  done  well  since,  there  are  hundreds  of 
other  coins  which  ha ve  multiplied  in  value.  Similarly,  when 
the  market  peaked  in  1 973  (the  peak  that  time  being  main¬ 
ly  in  the  area  of  gold  coins),  few  thought  that  prices  would 
go  higher  at  a  later  time.  But,  again  they  were  wrong,  and 
in  1 979-1 980  the  prices  of  1 973  looked  ridiculously  low  by 
comparison.  Now  it  is  1985.  The  coin  market,  while  hard¬ 
ly  quiet,  is  not  hyperactive  either.  If  you  are  a  student  of 
coin  cycles,  you  will  recognize  that  times  such  as  these  are 
the  very  best  to  add  to  your  "portfolio."  It  is  more  popular, 
of  course,  to  buy  when  the  market  is  near  a  peak.  Certain¬ 
ly,  more  people  were  spending  more  money  more  freely 
back  in  1 979  and  early  1 980  than  they  are  now!  But,  if  such 
people  are  to  see  a  profit  on  their  investment,  they  are  go¬ 
ing  to  have  to  wait  longer  than  you  will  have  to  wait  if  you 
buy  now,  early  in  1985.  Perhaps  we  should  not  dwell  upon 
the  investment  aspects  of  coins,  for  we've  just  talked  about 
how  enjoyable  they  are  in  other  areas.  However,  the  fact 
remains  that  most  people  who  part  with  many  hundreds 
or  many  thousands  of  dollars  do  so  with  the  expectation 
that,  enjoyment  aside,  a  profit  will  be  made  when  the  pieces 
are  sold  at  a  later  time.  In  191 2,  Wayte  Raymond,  who  own¬ 
ed  The  United  States  Coin  Company,  wrote: 

"COINS  AS  AN  INVESTMENT.  Many  harsh  words  are 
said  about  collectors  who  interest  themselves  in  a  natural 
speculation  as  to  whether  or  not  the  coins  they  are  buying 
today  will  have  appreciated  in  value  ten  years  from  now. 
Numismatists  of  the  old  school  tell  us  that  the  true  collec¬ 
tor  is  not  interested  in  any  such  appreciation  in  the  value 
of  his  collection  but  derives  his  entire  profit  and  pleasure 
from  the  coins  while  in  his  hands.  We  feel,  however,  that 
the  average  American  collector  while  he  greatly  enjoys  his 
coins  also  feels  very  pleased  if  on  disposing  of  his  collec¬ 
tion  he  realizes  a  profit." 

Since  the  1950s  we  have  helped  countless  thousands  of 
numismatists  put  together  collections.  These  have  ranged 
from  displays  of  Proof  double  eagles  to  sets  of  worn  Lin¬ 
coln  cents,  and  just  about  everything  in  between.  To  our 
knowledge,  each  and  every  collector  who  has  formed  a  col¬ 
lection  with  us  and  who  has  held  the  coins  for  five  to  ten 
years  or  more  has  made  a  tremendous  profit  on  their  sale. 
Here  is  hoping  the  tradition  will  continue! 

Welcome  to  the  Rare  Coin  Review  No.  54.  Offered  for 
your  consideration  in  the  following  pages  are  many  in¬ 
teresting  pieces,  ranging  from  colonial  coins  (which  for  a 
change  are  listed  toward  the  end  of  the  catalogue  rather 
than  at  the  beginning)  to  early  silver  to  commemoratives 
to  gold.  You  name  it,  and  we  probably  have  it!  A  little  while 
ago  we  purchased  a  nifty  estate  in  Vermont— coins  that  had 
been  assembled  many  decades  ago.  And  then  there  was 
an  estate  from  Dubuque,  Iowa.  Pieces  from  these  acquisi¬ 
tions  are  incorporated  into  the  present  listing. 

Tom  Becker,  who  has  the  designation  "senior  numis¬ 
matist"  around  here  but  who  in  reality  wears  many  hats 
(his  numismatic  talents  are  considerable  and  it  would  prob¬ 
ably  take  a  page  to  list  them  all!),  has  carefully  graded  and 
priced  each  of  the  pieces  described.  Each  and  every  coin 
is  offered  with  our  money-back  guarantee.  We  are  not  hap- 


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BOWERS  AND  MERENA 
Bowers  and  Merena  Galleries 


Chairman  of  the  Board . 

President  . 

Senior  Numismatist . 

Order  Department . 

Order  Department  . 

Associate,  Coll.  Portfolio  Prog 
Manager,  Book  Department  . 
Associate,  Book  Department  . 

Receptionist . 

Controller . 

Accounting  Department . 

Accounting  Department . 

Manager,  Graphic  Arts . 

Graphic  Arts  . 

Graphic  Arts . 

Graphic  Arts . 

Graphic  Arts  . 

Correspondence . 


.  .  .  Q.  David  Bowers 
Raymond  N.  Merena 

. Thomas  Becker 

.  .  Mary  Lou  Bassett 

. Mary  McIntosh 

. Cindy  Joseph 

. Sandi  Scott 

. Chris  DeLorme 

.  .  .Jennifer  Douglass 
Donald  Snyder,  CPA 
.  .  .  .  Kathleen  Adams 
.  .  .  Geraldine  Conaty 
.  .  .  Jane  E.  McCabe 

. Margaret  Graf 

. Linda  Heilig 

. Sarah  Whitten 

. Ruth  Corrigan 

. Liz  Arlin 


Auctions  by  Bowers  and  Merena,  Inc. 


Chairman  of  the  Board  . 

President  . 

Managing  Director . 

Associate  Director . 

Director,  World  Coins  . 

Associate . 

Manager,  Research  Dept 


.  .  Q.  David  Bowers 
Raymond  N.  Merena 

. Karl  Hirtzinger 

. Lisa  Simons 

.  .  Michael  J.  Hodder 

. Jane  Foran 

Robert  Rubel 


3- 


py  until  you  are!  The  emphasis  in  the  current  market  is  on 
grading,  so  we  would  be  remiss  if  we  did  not  devote  a  few 
words  to  the  subject  here,  especially  since  some  Rare  Coin 
Review  readers  may  be  new  to  our  service  and  to  our  quali¬ 
ty.  We  believe  that  you,  like  many  others,  will  feel  that  what 
we  call  "Select  Uncirculated,"  which  is  equal  to  "MS-63," 
is  just  as  good  as  or  better  than  what  you  may  find  offered 
as  "Choice  Uncirculated,  MS-65"  elsewhere.  We  are 
sticklers  for  accuracy,  and  we  do  our  level  best  to  deliver 
top  quality  for  the  price  paid.  If  you  are  the  slightest  bit  skep¬ 
tical,  we  urge  you  to  take  our  famous  Bowers  and  Merena 
Galleries  Comparison  Test.  Here  it  goes: 

This  Comparison  Test  has  never  been  successfully 
challenged,  but  we  invite  you  to  try!  After  you  receive  an 
order  from  this  Rare  Coin  Review  you  are  encouraged  to 
compare  the  coins  received,  item  by  item,  with  those 
available  from  any  other  source.  You  have  to  make  an  in- 
person  comparison  with  the  coins  we  deliver,  for  compar¬ 
ing  them  to  pieces  advertised  by  others  (but  not  delivered 
to  you  or  personally  seen  by  you)  without  examining  the 
quality  is  not  meaningful.  (For  example,  we  saw  a  1934 
Peace  silver  dollar  described  as  "Choice  Uncirculated"  and 
priced  at  less  than  $1 00,  but  when  a  client  ordered  the  coin 
and  showed  it  to  us  we  found  we  would  have  trouble  call¬ 
ing  it  even  Very  Fine!)  You  have  thirty  full  days  to  check 
each  coin  received  from  us  and  to  carefully  consider  it  in 
comparison  to  others!  If  you  do  not  agree  that  the  value 
delivered  by  Bowers  and  Merena  Galleries  is  the  very  best 
you  can  buy  anywhere,  just  return  the  coins  and  we  will 
give  you  an  instant  refund!  Off-hand,  you  might  think  that 
we  are  taking  a  big  chance  by  making  this  challenge.  But, 
if  history  repeats  itself,  not  one  single  coin  will  be  returned 
from  this  Rare  Coin  Review  as  a  result  of  an  unfavorable 
comparison! 

You  are  interested  in  coins  or  you  would  not  be  reading 


this  Rare  Coin  Review  issue.  But,  ask  yourself  this  question: 
Have  I  during  the  past  year  ordered  any  coins  from  Bowers 
and  Merena  Galleries?  If  your  answer  is  yes,  that's  just  fine 
and  dandy.  Keep  it  up,  and  order  more  from  this  issue! 
However,  if  the  answer  is  no,  please  let  us  know  why.  Look 
through  this  issue,  pick  items  that  look  interesting,  and  then 
if  you  do  not  intend  to  order  them,  please  write  personally 
to  Tom  Becker  and  let  him  know  why.  You  will  receive  a 
personal  reply  from  him.  Obviously,  we  are  out  to  win  your 
business.  We  feel  we  are  delivering  the  right  coins,  correctly 
graded,  and  at  the  right  prices.  So,  if  there  is  something  we 
don't  know  about  your  own  situation,  let's  discuss  it!  After 
all,  we  both  benefit  if  you  do  business  here! 

You  will  enjoy  the  personal  service  here  at  Bowers  and 
Merena  Galleries.  Recently,  someone  asked  if  Tom  Becker 
were  a  real  person.  He  believed  that  we  had  commission- 
type  salesmen  here  selling  coins,  and  that  "Tom  Becker" 
was  simply  a  name  used  in  advertising.  Tom  is  indeed  real, 
and  when  you  call  him  he  is  at  the  other  end  of  the  phone 
to  talk  with  you.  He  does  have  a  back-up  staff,  but  it  is  Tom 
himself  who  will  "talk  coins"  when  you  call,  who  will 
answer  any  numismatic  questions  you  may  have,  and  who 
will  help  in  any  other  way.  Mary  McIntosh  is  on  hand  to 
help  him  with  invoicing  and  technical  aspects  of  our  Col¬ 
lection  Portfolio  Program  (which,  incidentally,  you  should 
learn  more  about  if  you  are  not  familiar  with  this  nifty  ser¬ 
vice!),  while  Mary  Lou  Bassett  and  Cindy  Joseph  are  likewise 
valuable.  Before  each  coin  goes  out,  Tom  checks  it  over 
not  once  but  several  times.  Personal  service  indeed  makes 
a  difference— especially  in  today's  computer  age  where  we 
are  too  often  relegated  to  impersonality  and  numbers.  And, 
you  will  be  interested  to  know  that  Tom  does  not  get  paid 
on  a  commission  basis  (nor  does  anyone  here  at  Bowers 
and  Merena  Galleries).  He  does  not  have  to  sell  you 
something  in  order  to  do  well  here!  Indeed,  he  is  willing 
to  help  you  even  if  you  are  not  buying  anything.  Service 
is  the  name  of  the  game,  and  Tom  is  here  at  your  service. 
There  is  a  catch  to  this,  of  course:  As  Tom's  service  is  in¬ 
deed  personal,  and  as  he,  like  the  rest  of  us,  only  has  24 
hours  in  a  given  day,  he  cannot  take  care  of  a  million 
customers  all  at  once.  So,  for  this  reason  we  send  our  Rare 
Coin  Review  to  a  rather  limited  number  of  people— just  a 
fraction  of  the  number  of  people  who  receive  popular 
numismatic  periodicals  or  who  belong  to  the  American 
Numismatic  Association,  for  example.  Consider  yourself 
"elite"  if  you  have  a  copy  in  your  hands  right  now! 

Our  Collection  Portfolio  Program  enables  you  to  put 

together  a  meaningful  and  important  collection  by  receiv¬ 
ing  coins  on  a  regular  monthly  basis.  Tom  Becker  and  Mary 
McIntosh  keep  your  want  list  on  hand,  and  when  collec¬ 
tions,  estates,  and  other  properties  are  acquired,  you  get 
first  pick  of  what  you  need.  This  eliminates  sold-out  letters 
for  us  and  results  in  certain  other  efficiencies.  You'll  enjoy 
the  Collection  Portfolio  Program.  Give  Tom  or  Mary  a  call 
and  ask  about  it,  or  simply  write  "send  Collection  Portfolio 
Program  brochure"  on  your  order  blank,  and  complete  in¬ 
formation  will  come  by  mail.  Quite  a  few  Bowers  and 
Merena  clients  are  building  collections  this  way,  and  we 
feel  you  might  be  intrigued  by  the  possibility. 

Sandi  Scott,  head  of  our  Publications  Department,  is  one 


4- 


of  the  busiest  people  here.  In  1984  she  sold  several  hun¬ 
dred  thousand  dollars  worth  of  books  to  our  clients — quite 
an  achievement  by  any  standard!  In  1985  she  and  her  co¬ 
worker,  Chris  DeLorme,  hope  to  do  even  better.  Check  over 
the  book  listing  in  this  issue  and  then  give  Sandi  a  call  or 
drop  her  a  note.  Remember,  you  can  call  her  and  charge 
a  book  order  instantly  to  your  MasterCard,  Visa,  or 
American  Express.  And  that  way  your  order  will  be  on  its 
way  to  you  within  minutes  or  hours  of  the  time  you  think 
about  placing  it!  Like  our  coins,  each  book  is  offered  with 
a  30-day  return  privilege. 

Use  the  telephone!  Tom  Becker  is  just  a  telephone  call 
away.  Look  through  this  Rare  Coin  Review  carefully,  pick 
out  the  coins  you  want,  and  then  call  Tom  at  (603)  569-5095 
and  he  will  gladly  reserve  for  you  whatever  you  would  like. 
If  something  has  been  sold,  perhaps  he  can  suggest  alter¬ 
nates.  Then,  if  you  want  to  buy  some  books,  Tom  will  switch 
you  over  to  Sandi  Scott  and  she  will  take  that  part  of  your 
order.  Each  and  every  coin  is  actually  in  our  stock  at  the 
time  this  Rare  Coin  Review  is  prepared.  However,  many 
pieces,  even  inexpensive  issues,  are  one-of-a-kind  in  our 
inventory.  To  avoid  the  possibility  of  a  "sold  out  letter"  it 


is  desirable  to  list  alternate  choices  on  the  back  of  your  order 
blank.  If  you  are  building  a  type  set— and  we  think  this 
would  be  a  nice  thing  to  consider— then  simply  mark  "same 
type"  as  your  second  choice,  and  we  will  substitute  a  coin 
of  equal  or  higher  quality,  and  of  the  same  design  type,  if 
your  first  request  has  been  sold.  There  is  no  harm  in  listing 
many  alternate  choices.  The  more  you  list,  the  greater  are 
our  chances  of  completely  filling  your  order.  Do  you  know 
that  each  year  we  have  to  turn  down  several  million  dollars 
worth  of  business  simply  because  we  don't  have  the  coins 
on  hand?  This  is  remarkable— and  is  just  the  opposite  of  the 
"problem"  that  other  businesses  have!  Our  problem  is  buy¬ 
ing,  not  selling.  The  coins  seem  to  sell  themselves! 

You'll  like  doing  business  with  Bowers  and  Merena 
Galleries,  and  certainly  we  look  forward  to  doing  business 
with  you.  The  old-fashioned  New  England  tradition  is  the 
way  we  do  business  here.  We  treat  you  as  we  ourselves 
would  like  to  be  treated.  Let  Tom  Becker  and  our  staff  work 
with  you  in  providing  you  with  the  right  coin  in  the  right 
grade  and  for  the  right  price.  We  have  been  keeping 
discriminating  numismatists  happy  ever  since  1953,  and 
that's  a  long,  long  time!  We  look  forward  to  your  order! 


4 , 


Terms  of  Sale  &  Grading 


1.  An  order  blank  has  been  provided  for  your 
convenience.  Enclose  your  remittance  or  use 
MasterCard,  or  VISA  (send  all  of  the  information 
in  raised  print  on  your  card,  and  be  sure  to  sign 
your  order).  Please  list  alternate  choices  if  possi¬ 
ble  (these  will  only  be  used  if  your  first  choice  has 
been  sold  earlier).  If  you  are  ordering  for  a  type 
set,  just  put  "same  type"  as  your  second  choice. 
We  will  send  a  coin  of  the  same  design  type  and 
of  equal  or  higher  grade  and  value  if  your  first 
choice  has  been  sold. 

2.  Please  add  $3  postage  and  handling  for  all 
orders.  Orders  will  be  sent  insured,  either  through 
our  private  carrier  or  the  U.S.  Post  Office. 

3.  Any  item  can  be  reserved  by  telephone  Mon¬ 
day  through  Friday  9:00  to  Noon  and  1 :00  to  5:00. 
Call  our  Order  Department  at  (603)  569-5095. 

4.  GUARANTEE:  Any  item  not  satisfactory  for 
any  reason,  including  grading,  may  be  returned 
within  30  days  of  receipt.  Exception:  All  items  are 
guaranteed  authentic  forever.  Grading  is  a  sub¬ 
jective  description  that  represents  the  opinion  of 
the  cataloguer  as  to  the  state  of  preservation  of 
a  particular  item.  All  such  terms,  including  adjec¬ 
tival  and  numerical  description  of  coins,  are  the 
opinion  of  the  cataloguer  and  are  not  an  attribu¬ 
tion.  No  warranty,  whether  expressed  or  implied, 
is  made  with  respect  to  such  adjectival  or 
numerical  descriptions  which  can  and  do  vary 
among  experts.  However,  it  has  been  our  ex¬ 
perience  (dating  back  31  years  to  1953)  that  our 
conservative  grading  and  reasonable  prices  have 
pleased  countless  thousands  of  discriminating 
numismatists.  In  the  process  we  have  built  what 


is  probably  the  most  successful  rare  coin  dealer¬ 
ship  in  the  world  today.. 

5.  As  the  future  is  unknown,  no  guarantee,  im¬ 
plicit  or  expressed,  is  made  concerning  the  invest¬ 
ment  performance  of  any  coin  or  its  price  in  the 
future. 

6.  All  transactions  are  deemed  to  take  place  in 
New  Hampshire  as  the  place  of  venue,  under  Car- 
roll  County  and  New  Hampshire  state  laws. 

7.  All  coins  are  kept  in  bank  vaults.  We  main¬ 
tain  no  over-the-counter  facilities.  We  do  attend 
certain  national  and  regional  conventions  and  are 
pleased  to  meet  our  clients  in  person  there.  We 
are  just  as  close  as  your  telephone  or  mailbox  and 
invite  your  inquiries  on  any  numismatic  subject 
of  interest  to  you. 

8.  This  price  list  cancels  all  previous  lists  and 
quotations.  While  we  have  made  an  effort  to  avoid 
typographical  errors,  we  cannot  be  responsible 
for  any  such  errors  which  may  occur. 

Here  at  Bowers  and  Merena  Galleries  we 
employ  the  Photograde  and  ANA  grading  system. 
The  following  numbers  equal  the  following 
grades:  About  Good-3,  Good-4,  Very  Good-8, 
Fine-12,  Very  Fine-20,  Choice  Very  Fine-30,  Ex¬ 
tremely  Fine-40,  Choice  Extremely  Fine-45,  About 
Uncirculated-50,  Choice  About  Uncirculated-55, 
Uncirculated-60,  Select  Uncirculated-63,  Choice 
Uncirculated-65,  Gem  Uncirculated-67,  Perfect 
Uncirculated-70.  The  Uncirculated  grades  are 
sometimes  abbreviated  as  MS-60,  MS-63,  MS-65, 
MS-67,  and  MS-70.  MS-65  for  example  is  precisely 
the  same  as  Choice  Uncirculated-65. 


Proofs  are  graded  as  Proof-60,  Select  Proof-63, 
Choice  Proof-65,  Gem  Proof-67,  and  Perfect 
Proof-70. 

Here  at  Bowers  and  Merena  Galleries  we  are 
conservative  when  it  comes  to  grading,  and  we 
have  found  that  many  of  the  pieces  we  call  MS-65, 
for  example,  are  just  as  nice  as  those  called  MS-67 
by  much  of  the  competition.  For  this  reason  we 
seldom  use  the  MS-67  or  Proof-67  classifications. 

The 

Bowers  and  Merena  Galleries 

COMPARISON  TEST 

The  Bowers  and  Merena  Galleries  Comparison 
Test  has  never  been  successfully  challenged.  But, 
we  invite  you  to  try!  After  receiving  an  order  from 
this  issue  of  the  Special  Coin  Letter  we  invite  you 
to  compare  the  coins  received,  item  by  item,  with 
those  available  from  any  other  source.  You  have 
to  make  an  in-person  comparison  of  the  coins  we 
deliver,  for  comparing  them  to  pieces  advertised 
by  others  (but  not  delivered  to  you  or  seen  by  you) 
without  examining  the  quality  is  not  meaningful. 
You  have  30  full  days  to  do  this!  If  you  do  not 
agree  that  the  value  delivered  by  Bowers  and 
Merena  Galleries  is  the  very  best  you  can  buy,  just 
return  the  coins  and  we  will  give  you  an  instant 
refund!  Offhand  you  might  think  we  are  taking 
a  big  chance  by  making  such  a  challenge.  But, 
if  history  repeats  itself,  not  one  single  coin  will  be 
returned  as  the  result  of  an  unfavorable 
comparison! 


-5- 


Are  You  Missing  Something  ?  ?  ? 


If  you  do  not  have  a  FULL  subscription  to  our  publications,  you  are 
missing  much  of  what  we  have  to  offer — including  the  fine  auction 
catalogues  issued  by  Auctions  by  Bowers  and  Merena,  Inc.  $35  will  buy 
you  a  full  subscription  today! 


-6- 


Half  Cents 

1805  Small  5.  No  stems.  Very  Fine-20.  .  .90.00 

1806  Small  6.  Stem  I  ess  wreath.  VF-20.  Very  pleas¬ 
ing  $90;  AU-50,  glossy  tan  . 445.00 

1808  VF-30 .  ik  nn 


1828  13  stars.  Choice  AU-55  . 195.00 

*  *  * 

We've  been  receiving  rave  reviews  from  col¬ 
lectors  who  ordered  our  Choice  AU-55  half  cents 
and  large  cents.  They  discovered,  much  to  their 
delight,  that  this  grade  offers  very  attractive  coins 
at  most  reasonable  prices. 

Our  only  problem  is  finding  enough  choice 
coins  to  meet  the  growing  demand.  The  best  way 
to  insure  that  you  get  first  chance  to  own  some 
of  the  nicest  coins  we  buy  is  to  begin  a  “copper 
coins"  Collection  Portfolio  Program.  For  as  little 
as  $100  per  month,  or  other  payment  interval  of 
your  choice,  you  can  begin  assembling  a  beautiful 
collection  without  the  concern  of  being  too  late 
with  your  order. 

*  *  * 


1 835  AU-50  with  hints  of  mint  red  $149;  Choice 
AU-55  $195;  Uncirculated  MS-60  with  hints 
of  mint  red  and  beautiful  surfaces  $295;  Un¬ 
circulated  MS-60/63.  Fully  50%  mint  red  with 


great  toning  . 425.00 

1837  Half  cent  token.  VF-30 . 129.00 


1849  Large  date.  A  scarce  date  with  a  mintage  of 
less  than  40,000  pieces.  Choice  AU-55  $195; 
Uncirculated,  MS-60.  Glossy  medium  brown 

. 375.00 

1850  Choice  About  Uncirculated-55.  Another  low 

mintage  year . 275.00 

1851  AU-50  $115;  Choice  AU-55  $195;  Uncir¬ 

culated,  MS-60  with  generous  amounts  of  mint 
red . 295.00 


1853  Select  Uncirculated,  MS-63 . 695.00 

1854  Choice  AU-55  $195;  Uncirculated  MS-60. 

Glossy  tan  with  hints  of  red  . 325.00 

1857  Choice  EF-45,  scarce . 125.00 


Large  Cents 


1802  Normal  reverse.  Extra  Fine-45.  Bold  strike 
with  attractive  surfaces  . 695.00 

1845  Choice  Uncirculated,  MS-65.  Glossy  brown 
surfaces  .  1,495.00 

1847  Choice  Brilliant  Uncirculated,  MS-65.  Near¬ 
ly  full  mint  red! . 3,950.00 


1850  Select  Uncirculated,  MS-63.  Superb  toning 

with  some  mint  red . 595.00 

1851  Choice  AU-55  . 175.00 


with  some  mint  red . 595.00 

1851  Choice  AU-55  . 175.00 


1853  Select  Uncirculated,  MS-63  . 595.00 


1856  Upright  5  in  date.  Select  Unc.,  MS-63  with 
hints  of  red  and  beautiful  surfaces  .  .595.00 


1856  Slanting  5  in  date.  Choice  AU-55  .175.00 


Small  Cents 


1857  Uncirculated,  MS-60  $325;  Select  Uncir¬ 
culated,  MS-63  . 695.00 

1858  Large  letters.  Brilliant  Uncirculated,  MS-60 

$395;  Select  BU,  MS-63/65  . 995.00 

1858  Small  letters.  Choice  AU-55  $185;  Unc., 
MS-60.  Nearly  full  brilliance . 325.00 


1859  The  popular  one  year  issue  with  laurel  in¬ 
stead  of  oak  leaf  wreath.  Select  Brilliant  Un¬ 
circulated,  MS-63  . 695.00 

1863  Choice  AU-55  $55;  Select  Uncirculated, 

-7- 


MS-63/65  .  395.00 

1864  CN.  Select  BU,  MS-63  . 395.00 

1864  Bronze.  Select  Brilliant  Uncirculated,  MS-63. 

80%  mint  red . 159.00 


1864-L  Choice  AU-55  $215;  Uncirculated,  MS-60. 


Lots  of  mint  red . 295.00 

1868  Select  BU,  MS-63  . 295.00 

1870  Select  BU,  MS-63  . 365.00 


1871  Brilliant  Proof-63.  Light  toning  .  .  .475.00 

1872  Choice  BU,  MS-65.  Very  scarce  in  mint  state. 

Nearly  full  mint  red  . 1,295.00 

1874  Select  Brilliant  Uncirculated,  MS-63.  Just  a 

hint  of  light  toning . 215.00 

1875  Choice  AU-55  . 75.00 

1879  Choice  AU-55  . 39.00 

1880  Choice  AU-55  $29;  Select  BU,  MS-63.  Nearly 

full  mint  red . 1 35.00 


1883  Choice  Brilliant  Uncirculated,  MS-65.  Superb 
with  mint  red  "fire"  $495;  Choice  Brilliant 
Proof-65  . 1,295.00 


1885  Choice  Brilliant  Proof-65.  Attractive  light 


toning . 1,395.00 

1886  Type  II.  Choice  Brilliant  Proof-65.  An  attrac¬ 
tive  specimen  . 1,295.00 

1890  Choice  AU-55  . 23.00 

1891  Choice  AU-55  $23;  Unc.,  MS-60  .  .42.00 

1892  Choice  AU-55  . 23.00 

1895  Select  BU,  MS-63  . 120.00 

1896  Select  BU,  MS-63  . 120.00 

1897  Choice  AU-55  . 23.00 

1898  Select  BU,  MS-63  . 120.00 

1899  Select  BU,  MS-63  $89;  Choice  Brilliant 

Proof-65 . 1,295.00 

1901  Choice  AU-55  . 20.00 

1902  Choice  BU,  MS-65  . 445.00 

1903  Choice  AU-55  $20;  Select  Brilliant  Uncir¬ 
culated,  MS-63  . 89.00 

1904  Choice  AU-55  . 20.00 

1906  Choice  AU-55  $20;  Unc.,  MS-60  .32.00 

1907  Choice  AU-55  . 20.00 

1908  Choice  AU-55  . 20.00 


1909  Choice  AU-55  $22;  Choice  Brilliant  Uncir 
culated,  MS-65  . 495.00 


1909-S  Choice  AU-55  $350;  Select  BU,  MS-63/65 
$750;  Choice  Brilliant  Uncirculated,  MS-65. 
Much  demand  but  rarely  encountered  this 


nice.  A  good  "deal"  at  . 1,495.00 

LINCOLN  CENTS 

1909  V.D.B.  Select  BU,  MS-63  $29,  Choice  BU, 
MS-65  . 69.00 


1909-S  V.D.B.  Choice  AU-55  $465;  The  "S" 
V.D.B.  has  been  a  favorite  with  generations 
of  collectors  and  this  coin's  great  popularity 
continues  today.  We  have  no  less  than  five 
pieces  currently  in  stock.  Each  coin  is  a  con¬ 
servatively  graded  MS-63  example.  If  you've 
been  contemplating  owning  one  of  these 
"classics"  then  now  might  be  just  the  right 
time  to  order  while  our  selection  is  good  and 
our  price  is  very  affordable.  Remember:  You 
can  take  advantage  of  our  lay-away  plan  that 
allows  you  to  acquire  the  coins  you've  always 
wanted  to  own  while  spreading  out  your 
payments  for  60  days.  Select  BU,  MS-63  90% 


mint  red  with  attractive  toning . 895.00 

1909  Choice  BU,  MS-65  . 69.00 

1909-S  Select  BU,  MS-63/65  . 275.00 


"BOX  SPECIALS" 

In  the  last  issue  of  the  Rare  Coin  Review  we  of¬ 
fered  20  different  "box  specials”  and  the  majori¬ 
ty  of  these  unusual  offers  were  very  well  receiv¬ 
ed.  In  fact,  in  a  number  of  cases  we  had  to  disap¬ 
point  some  customers  when  our  supplies  ran  out. 

Since  everyone  seemed  to  like  this  concept, 
we're  going  to  repeat  the  same  idea  in  this  issue. 
Perhaps  we'll  even  make  these  special  values  a 
regular  feature  of  the  Rare  Coin  Review ?  In  this 
regard  we'd  appreciate  any  comments  you  may 
have.  What  sort  of  coins  would  you  like  to  see 
featured?  Of  those  box  specials  we've  offered, 
even  if  you  didn't  order,  which  seemed  most 
interesting? 

Any  comments  you  may  care  to  make  should 
be  addressed  to  Tom  Becker.  You  can  be  sure  that 
he  will  consider  every  suggestion  and  your 
remarks  are  appreciated. 


Box  Special  #1 

In  1909  two  types  of  Lincoln  cents  were  pro- 
I  duced.  The  first  type  prominently  displays  Victor 
D  Brenner's  initials  on  the  reverse  and  on  the  se¬ 
cond  type,  his  initials  are  deleted  entirely  from 
the  coin. 

If  purchased  separately  the  1909  V.D.B.  and  the 
,  1909  Lincoln  cent  in  MS-65  condition  would  cost 
you  $1  38  But,  if  you  order  this  special  you  can 
|  have  the  pair  for  just . 125.00 


1910-S  Select  BU,  MS-63  $159;  Select  BU, 
MS-63/65  $225;  Choice  BU,  MS-65  .425.00 

191 1  -D  Choice  Extremely  Fine-45  $22;  Choice 


AU-55  . 50.00 

191 1-S  EF-45 . 40.00 


1913  Select  BU,  MS-63/65  $59;  Choice  Brilliant 
Uncirculated,  MS-65  . 120.00 

191  3-S  Select  BU,  MS-63/65.  Just  a  hint  of  attrac¬ 
tive  toning . 249.00 


1915  Choice  BU,  MS-65  . 395.00 


1927-S  Choice  Brilliant  Uncirculated,  MS-65.  Full 
mint  red  with  no  spots  or  discoloration.  Quite 


scarce  this  nice . 750.00 

1928-D  Choice  BU,  MS-65  . 335.00 


1929-D  Choice  BU,  MS-65  . 225.00 

1929-S  Choice  BU,  MS-65 . 125.00 


Box  Special  #2 

While  we  often  make  exciting  purchases,  one 
very  pleasant  "surprise  package"  that  came  our 
way  was  a  small  hoard  of  carefully  preserved,  full 
mint  red  1929-D  and  1929-S  cents.  These  coins 
are  really  superb  and  well  worth  our  total  asking 
price  of  $350  for  the  two  coins  .  .  .  but,  if  you 
order  this  box  special  Tom  Becker  will  select  one 
of  each  mint  from  our  hoard  and  send  them  to 
you  for  just  .  .  .$295.  A  savings  of  $55! 


1930  Choice  BU,  MS-65  . 45.00 

1932  Choice  BU,  MS-65  . 89.00 


1932-D  Choice  BU,  MS-65  . 79.00 

1937  Select  Proof-63  $125;  Choice  Proof-65.  An 
attractive  specimen  . 195.00 


1955  Double  Die.  Uncirculated,  MS-60.  Defect 
free  medium  brown  surfaces  $695;  Select  BU, 
MS-63 . 1,595.00 


Box  Special  #3 

One  special  right  after  another!  You  bet!  We've 
made  some  really  wonderful  buys  in  Lincoln  cents 
and  hopefully  our  customers  will  have  the 
"sense"  to  take  advantage  of  these  unusual  offers. 

Order  the  1930,  1932,  and  1932-D  cents  in 
Choice  Brilliant  Uncirculated,  MS-65  condition  as 
listed  above  and  we  expect  you  to  pay  a  total  of 
$213.  Or,  if  you  order  this  special  we'll  send  you 
the  three  superb  coins  for  just  $185! 

Order  box  specials  #2  and  #3  and  Tom  Becker  will  send  you 
or  a  friend,  Dave  Bowers'  new  book.  United  States  Copper  Coins 
An  Action  Guide  for  the  Collector  and  Investor,  a  $9.95  value,  free 
of  charge! 


Two  Cents 

1864  Small  motto.  Choice  AU-55.  Glossy  brown 
with  just  the  lightest  rubbing  $325;  Choice 
Brilliant  Uncirculated,  MS-65.  Certainly  one 
of  the  nicest  examples  of  this  rarity  that  we 
have  yet  to  encounter.  Fully  mint  red  with  no 
detracting  features.  Priced  at . 3,450.00 


1864  Large  motto.  Uncirculated  MS-60  $195; 

Select  Uncirculated,  MS-63  $475;  Choice 
Brilliant  Proof-65.  A  very  low  mintage  and 
superb  quality  combine  to  make  this  coin  an 
outstanding  value  at . 2,750.00 

1865  Uncirculated  MS-60  $195;  Uncirculated, 

MS-60/63.  Hints  of  red,  otherwise  glossy 
brown  $225;  Select  Unc.,  MS-63  $475;  Choice 
Unc.,  MS-65.  90%  mint  red . 1,595.00 

1866  Uncirculated,  MS-60.  Attractive  glossy 

brown . 195.00 

1867  Choice  AU-55  $110;  Uncirculated,  MS-60 

$195;  Select  Uncirculated,  MS-63.  80%  mint 
red  and  most  attractive  $475;  Choice  BU, 
MS-65.  Mint  red  and  light  tan.  Another  good 
value  at . 1,195.00 


1868  Unc.  MS-60.  Red  and  brown  $195;  Select 
Uncirculated,  MS-63.  50%  mint  red  with  plea¬ 
sant  light  toning  $475;  Choice  Brilliant 
Proof-65.  Immaculate  surfaces  .  .  .2,750.00 

1869  Uncirculated,  MS-60.  Brown  with  light  ton¬ 

ing  $195;  Choice  Brilliant  Proof-65.  An  attrac¬ 
tive  specimen  . 2,750.00 

1870  Uncirculated,  MS-60  $295;  Select  Uncir¬ 
culated,  MS-63  . 495.00 

1871  EF-40  $85;  Choice  Uncirculated,  MS-65. 

Original  mint  red  with  just  a  wisp  of  light 
toning . 1,795.00 

1872  Select  Uncirculated,  MS-63.  One  of  but 

65,000  business  strikes  produced  $1,195; 
Choice  Brilliant  Proof-65.  Another  example 
of  fine  quality  two-cent  piece  Proofs  to  be 
found  in  our  large  inventory.  This  beauty  is 
modestly  priced  at  only  2,750.00 


-8- 


Box  Special  #4 

Get  the  beginnings  of  a  collection  or  just  "put 
away"  a  few  great  quality  two-cent  pieces  at  super 
savings. 

Let  Tom  Becker  review  our  stock  and  send  you 
three  different  dates  of  two-cent  pieces,  each  coin 
grading  MS-60  or  better  and  he'll  send  you  this 
little  package  for  only  $495.  A  savings  of  $90!  Or 
tell  him  to  pick  only  Select  BU,  MS-63  coins  and 
get  three  different  dates  for  just  $1,150  and  save 
$275! 


Nickel  Three-Cent  Pieces 

1867  Select  Brilliant  Uncirculated,  MS-63.  Attrac¬ 
tive  light  toning  . 350.00 


1873  Closed  3.  Choice  AU-55  $65;  Select  BU, 

MS-63  . 395.00 

1874  Choice  About  Uncirculated-55  $70;  Select 

Proof-63/65  . 695.00 

1875  Choice  AU-55 . 85.00 

1884  Scarce.  Chpice  AU-55  . 425.00 


1889  Last  year  of  issue.  Brilliant  Uncirculated, 
MS-60.  A  seldom  encountered  business  strike 
with  a  low  mintage  $265;  Choice  Brilliant, 
Proof-65  . 1,495.00 

Silver  Three-Cent  Pieces 

1851  Choice  BU,  MS-65  . 2,795.00 


1851-0  The  only  branch  mint  issue  of  this 
denomination.  Select  BU,  MS-63.  Very  scarce 
this  nice  with  lots  of  lustre  and  light  golden 


toning . 995.00 

1852  Select  BU,  MS-63  . 695.00 


1854  Type  II  Choice  AU-55  $275;  Uncirculated, 


MS-60.  Superb  multi-colored  toning  .425.00 

1856  Type  II  Uncirculated,  MS-60.  Light  golden 
toning . 425.00 

1858  Type  II.  Choice  EF-45 . 110.00 

1860  Choice  AU-55  . 179.00 

1861  Choice  AU-55  .  179.00 

1862  Choice  AU-55  $179;  Uncirculated,  MS-60. 

Attractive  toning . 295.00 


1866  Choice  About  Uncirculated-55.  Very  scarce 

$450;  Choice  Proof-65.  Superb  green  and  rose 
toning . 2,800.00 

1867  Choice  Proof-65.  Superb  green  and  rose 

toning . 2,800.00 


1868  Choice  Proof-65.  Another  rainbow  toned 
gem  . 2,800.00 

1872  Choice  Proof-65.  The  last  beautifully  toned 
Proof  in  this  listing . 2,800.00 


Box  Special  #5 

How  Many  Three  Cent  Pieces  are  in  a  Dollar? 

Today's  youngsters  are  certainly  being  "short 
changed".  Just  imagine  what  fun  kids  must  have 
had  when  learning  to  use  money  during  the  mid 
1800s.  It  must  have  been  quite  a  task  to  work  with 
half  cents,  two  cent  pieces,  three  cent  pieces  and 
a  twenty  cent  coin.  Mathematical  story  problems 
could  have  stumped  the  brightest  of  young 
scholars. 

Collecting  the  five  basic  type  coins  in  the  ob¬ 
solete  Denomination  set  is  great  fun  and  this  lit¬ 
tle  collection  will  certainly  amaze  your  non¬ 
collecting  friends  who  have  probably  never  seen 
such  unusual  coins. 

For  our  customers  who  would  like  to  own  this 
collection  but  don't  want  to  spend  lots  of  time 
finding  each  coin,  we  have  assembled  a  limited 
number  of  obsolete  denomination  sets.  Each  set 
will  contain  coins  which  grade  Choice  AU-55  or 
better.  Included  are: 

Half  cent 

Two-cent  piece 

Three-cent  silver 

Three-cent  nickel 

Twenty-cent  piece 

If  you  were  to  order  these  coins  individually 
from  this  issue  of  the  Rare  Coin  Review  you  could 
expect  to  pay  $933,  but  if  you  order  the  complete 
collection,  Tom  Becker  will  send  you  five  really 
attractive  Choice  AU-55  coins  and  a  display  holder 
for  only  $875! 

Nickel  Five-Cent  Pieces 

SHIELD  NICKELS 

1875  Choice  BU,  MS-65.  Just  a  bit  of  light  toning 
$1,695;  Choice  Proof-65.  Fully  brilliant  with 


frosty  devices .  1,595.00 

1879  Scarce  date.  Choice  EF-45 . 495.00 

1882  Choice  BU,  MS-65  .  1,475.00 


1883  Select  BU,  MS-63  $450;  Choice  Brilliant  Un 
circulated,  MS-65  . 1,450.00 

LIBERTY  NICKELS 

1883  With  CENTS.  Select  BU,  MS-63.  Super  rain¬ 
bow  toning  $325;  Choice  Proof-65.  Lightly 
toned . 1,250.00 


1885  Choice  Proof-65.  Cameo  head  and  light 

toning . 2,750.00 

1886  Select  Proof-63  . 995.00 

1888  Choice  Brilliant  Uncirculated,  MS-65  $950; 

Choice  Brilliant  Proof-65.  Attractive  mottled 
toning . 1,250.00 

1889  Choice  BU,  MS-65  $950;  Choice  Proof-65. 

Another  very  attractive  Proof  nickel.  Lightly 
toned  and  sure  to  please  at . 1,250.00 

1894  Select  Proof-63  $525;  Choice  Brilliant 

Proof-65 . 1,250.00 

1895  Choice  Proof-65.  Beautiful  gold  and  blue 

toning . 1,250.00 

1896  Choice  BU,  MS-65  . 950.00 

1897  Select  BU,  MS-63.  Lightly  toned  .  .325.00 

1900  Choice  BU,  MS-65  . 950.00 

1903  Select  BU,  MS-63  . 325.00 

1904  Select  BU,  MS-63/65  . 425.00 

1908  Choice  BU,  MS-65  . 950.00 


1909  Choice  Proof-65.  Fantastic  rainbow  toning. 
A  most  impressive  specimen . 1,250.00 

1911  Choice  Proof-65.  Attractive  light  original 

toning . 1,250.00 

1912  Choice  BU,  MS-65  . 895.00 

1912-D  Choice  BU,  MS-65.  Well  struck  with  light 
toning.  Well  worth  our  price . 1,895.00 


1912-S  Choice  BU,  MS-65  . 2,200.00 

BUFFALO  NICKELS 

1913  Type  I.  Select  BU,  MS-63  . 85.00 


1913-S  Type  I.  Choice  AU-55  $69:  Select  BU 
MS-63/65  $195;  Choice  Brilliant  Uncirculated 
MS-65  . 495.00 


-9- 


191  3-D  Type  II  Uncirculated  MS-60  $179;  Select  and  select  some  "tools".  You  will  never  regret  it. 
BU,  MS-63  . 275.00 

1914  Choice  AU-55  $32;  Select  Brilliant  Uncir¬ 
culated,  MS-63  . 115.00  JEFFERSON  NICKELS 


1914-S  Select  BU,  MS-63.  Beautiful  surfaces  and 


great  toning  . 250.00 

1915  Select  BU,  MS-63 . 115.00 

1916  Select  BU,  MS-63  . 85.00 


191 6-S  Select  BU,  MS-63/65.  Another  strictly 
original  coin  with  great  toning . 325.00 

1919  Select  BU-MS-63/65  .  125.00 

1920  Select  Brilliant  Uncirculated,  MS-63/65  frosty 

and  brilliant  . 149.00 

1926  Uncirculated,  MS-60  $32;  Choice  BU,  MS-65 
. 225.00 

1927- D  Select  BU,  MS-63  . 295.00 

1928  Select  BU,  MS-63/65.  Only . 115.00 

1928- D  Select  Brilliant  Uncirculated,  MS-63.  A  lot 

of  coin  for  only  . 90.00 

1929  Select  BU,  MS-63  . 69.00 

1929- D  Select  BU,  MS-63  $115;  Select  BU, 

MS-63/65  with  golden  toning  $195;  Choice 
BU,  MS-65.  A  sharp  strike  with  dazzling 
brilliance . 595.00 

1929-S  Select  BU,  MS-63  . 85.00 


1 931  -S  Choice  BU,  MS-65.  One  of  the  lowest  min¬ 


tages  in  the  Buffalo  series . 349.00 

1934- D  Select  BU,  MS-63 . 115.00 

1935  Select  BU,  MS-63  . 35.00 

1935- D  Select  BU,  MS-63  $95;  Choice  Brilliant  Un¬ 
circulated,  MS-65  . 375.00 

1935- S  Select  BU,  MS-63  . 55.00 

1936- D  Choice  BU,  MS-65  . 65.00 

1936- S  Select  BU,  MS-63  . 39.00 

1937- S  Choice  BU,  MS-65 . 49.00 

1938- D  Choice  BU,  MS-65  . 45.00 

*  *  * 


THE  NUMISMATISTS  “TOOLS  OF  THE  TRADE" 

No  carpenter  or  mechanic  would  attempt  to  do 
his  job  without  an  adequate  set  of  specialized 
tools.  As  professional  numismatists  we  would  be 
very  ineffective  without  our  extensive  reference 
library.  Our  numismatic  books  are  the  tools  of  our 
trade  and  as  such  they  are  invaluable. 

We  encourage  you  to  also  build  a  good  "work¬ 
ing  library".  For  a  very  modest  investment  you 
can  acquire  generations  of  accumulated 
knowledge  and  put  it  to  work  for  you.  You  will 
also  find  that  books  are  indeed  just  like  tools  in 
that  the  more  of  them  that  you  have  the  more  they 
will  be  used 

Books  are  a  one-time  investment  that  last  a 
lifetime. 

Take  a  few  moments  to  review  our  book  listing 


The  complete  set  of  Jefferson  nickels,  1938-1964 
has  become  a  popular  item  with  our  customers 
and  we  try  to  always  have  a  few  select  sets  on 
hand.  Each  set  will  grade  Select  BU,  MS-63/65  and 
comes  in  a  deluxe  storage  album.  While  they  last 
just  . 295.00 


1939-D  Choice  BU,  MS-65  . 55.00 

1939-S  Choice  BU,  MS-65 . 30.00 

1942  Type  I.  Choice  Proof-65 . 55.00 

1942-D  Choice  BU,  MS-65  . 29.00 

1942-P  The  only  Proof  war  nickel.  Choice  Brilliant 
Proof-65  . 325.00 


Half  Dimes 

1800  Fine-1 2.  Slightly  bent  but  this  minor  defect 
is  hardly  noticeable  and  not  at  all  detracting. 


A  very  pleasing  type  coin  for  just .  .  .  595.00 
1801  Fine-12.  Fairly  priced  at . 995.00 

1829  Select  Brilliant  Uncirculated,  MS-63/65. 
Beautiful  light  toning  . 1,975.00 

1832  About  Uncirculated-50.  Lots  of  lustre  and 

great  toning  . 230.00 

1833  VF-30 . 75.00 


1836  Small  date.  Small  5  cent.  Choice  Uncir¬ 
culated,  MS-65.  Superb  light  toning  with  full 
lustre  beneath . 4,450.00 


1837  No  stars.  Uncirculated,  MS-60/63  with  strong 
claims  to  being  a  full  MS-63.  Nicely  toned  and 


a  good  value  at  . 750.00 

1838  Choice  AU-55  . 139.00 


1843  Choice  Unc.,  MS-65.  Beautifully  toned.  From 
an  old  collection  whose  owner  stressed  superb 
quality.  Very  fairly  priced  at  . 2,395.00 

1850  Select  Brilliant  Uncirculated,  MS-63/65.  We 
have  two  pieces  in  stock,  a  frosty  brilliant  ex¬ 
ample  and  a  beautifully  toned  piece.  Take 
your  pick,  each  at  just . 995.00 

1854  Arrows  at  date.  Choice  EF-45  $75;  Choice 
AU-55  with  golden  toning . 159.00 

1856  Choice  EF-45 . .69.00 

1857  AU-50  . 89.00 


1859  One  year  type  with  hollow  stars.  Choice 
Brilliant  Proof-65.  Light  gold  and  blue  toning. 
A  coin  with  great  "eye  appeal".  Moderately 
priced  at  . 4,750.00 

1 860-0  Choice  AU-55 . 11 5.00 

1861  Choice  AU-55  $99;  Choice  BU,  MS-65. 

Lightly  toned . 1,995.00 

1862  Choice  AU-55  $99;  Select  Brilliant  Uncir¬ 
culated,  MS-63/65  . 795.00 


1865  Choice  Brilliant  Proof-65.  Mirror  surfaces 
and  frosty  devices . 2,495.00 

1871  Uncirculated,  MS-60  $295;  Select  Brilliant 

Uncirculated,  MS-63  . 595.00 

1872  Choice  AU-55  . 99.00 

1873  Choice  Brilliant  Proof-65.  A  simply  pristine 

coin! . 2,295.00 

1873-S  Brilliant  Uncirculated,  MS-60  .  .  .295.00 
*  *  * 

THINKING  OF  BEGINNING  A  TYPE  SET? 

At  Bowers  and  Merena  Galleries  we're  "type 
set  specialists"  who  have  been  helping  collectors 
get  the  very  most  enjoyment  from  numismatics 
for  more  than  31  years. 

Collecting  coins  by  "type",  that  is  acquiring  one 
example  of  each  major  coinage  design  allows  you 
to  sample  every  area  of  numismatics  while 
building  a  meaningful  collection. 

We  can  help  you  select  just  the  right  coins  for 
your  collection  regardless  of  your  budget.  Give 
Tom  Becker  a  call  and  hear  first  hand  how  you 
can  work  with  him  and  get  the  very  most  pleasure 
from  our  fine  hobby. 

By  the  way...  selecting  a  nice  seated  dime  or 
half  dime  from  this  listing  would  be  a  great  place 
to  start. 

*  *  * 


Dimes 

1805  About  Good-3.  Bold  date  . 195.00 

1807  About  Good-3 . 195.00 


1814  Large  date.  Choice  AU-55.  An  elusive  high 
grade  type  coin  . 695.00 


1835  Choice  Unc.,  MS-65.  Light  golden  toning 
over  frosty  surfaces.  Priced  at  .  8,350.00 

1850  Select  BU,  MS-63.  Frosty  surfaces  with  tust 


-10- 


a  bit  of  golden  toning.  One  of  the  best  values 
in  type  coins  today.  Coins  of  this  quality  were 
selling  for  twice  the  price  several  years  ago. 
Priced  right  in  line  at  just . 795.00 

1854  Arrows.  Uncirculated,  MS-60.  Pleasing  gold 
and  blue  toning . 350.00 

1862  Uncirculated,  MS-60.  Cleaned  .  .  .195.00 


1870  Select  BU,  MS-63/65.  Halo  toning  and  great 
lustre.  Who  says  quality  has  to  be  expensive? 
Priced  at  just . 595.00 

1873  Arrows.  Select  Brilliant  Uncirculated, 
MS-63/65  . 3,250.00 


1875-CC  Mint  mark  inside  wreath.  Select  BU, 
MS-63  $795;  Select  BU,  MS-63/65.  Gorgeous 
rose  colored  toning  over  beautiful  surfaces. 
Certainly  one  of  the  most  eye  appealing  dimes 


in  our  inventory.  Only . 1,150.00 

1876  Select  Brilliant  Proof-63  . 795.00 

1876- CC  BU,  MS-60  . 275.00 

1877- CC  Select,  BU,  MS-63  . 750.00 

1879  Select  Proof-63  . 795.00 

1882  AU-50  . 79.00 

1883  Choice  AU-55  .  135.00 


1887  Select  BU,  MS-63  . 475.00 

1889-S  Choice  Brilliant  Uncirculated,  MS-65.  One 

of  the  scarcer  issues  in  a  low  mintage  era. 

Sharply  struck . 1,650.00 

1891  Choice  AU-55 . 115.00 


BARBER  DIMES 


1896  Choice  AU-55  . 99.00 

1898  AU-50  $75;  Choice  AU-55 . 99.00 


1901-S  Gem  BU,  MS-67.  A  superb  example  of  one 
of  the  most  desirable  issues  in  the  entire  Barber 
series.  A  wonderful  coin  and  a  great  oppor¬ 
tunity  for  the  collector  who  simply  will  not  set¬ 
tle  for  anything  but  the  very  best  .4,900.00 


1902-0  Select  BU,  MS-63/65  . 995.00 

1904  AU-50  . 75.00 

1905  AU-50  $75;  Choice  AU-55 . 99.00 

1907  Choice  AU-55  . 99.00 

1912  Choice  AU-55  . 99.00 

1912-D  AU-50  $75;  Choice  AU-55 . 99.00 

1913  AU-50  $75;  Choice  AU-55 . 99.00 

1914  AU-50  $75;  Choice  AU-55 . 99.00 


191 5- S  AU-50 . 75.00 

1916  Barber  Choice  AU-55 . 99.00 

1916- S  Barber  Choice  AU-55  . 99.00 


MERCURY  DIMES 


1916  Select  BU,  MS-63.  Full  split  bands  (noted 
elsewhere  in  this  listing  as  FSB) . 75.00 


191 7-S  Choice  BU,  MS-65,  FSB.  Really  quite 


scarce  this  nice . 995.00 

1919-S  Select  BU,  MS-63  . 275.00 


1934-D  Choice  BU,  MS-65  $85;  Choice  BU, 


MS-65,  FSB . 249.00 

1937  Choice  Brilliant  Proof-65  . 695.00 

1937- S  Choice  BU,  MS-65 . 42.00 

1938- D  Choice  BU,  MS-65,  FSB . 89.00 

1940  Choice  Brilliant  Proof-65  . 495.00 

1940- S  Choice  Brilliant  Uncirculated,  MS-65  $23; 

Choice  BU,  MS-65,  FSB . 99.00 

1941  Select  Proof-63/65  $250;  Choice  Brilliant 

Proof-65  . 425.00 

1941 - D  Choice  BU,  MS-65  $32;  Choice  BU, 

MS-65,  FSB . 59.00 

1 941  -S  Choice  BU,  MS-65  $23;  Choice  BU,  MS-65, 
FSB  . 69.00 

1942- S  Choice  BU,  MS-65 . 39.00 

1943- S  Choice  BU,  MS-65  $23;  Choice  BU,  MS-65, 

FSB  . 149.00 


Box  Special  #6 

Three  San  Francisco  Dimes 

Put  some  really  attractive  coins  in  your  set  of 
Mercury  dimes  with  this  special.  You  get  one 
each.  All  Choice  BU,  MS-65,  1940-S,  1941-S,  and 
1942-S,  a  regular  $85  value  for  just  $75. 


Twenty  Cent  Pieces 


1875  First  year  of  issue.  AU-50,  some  light  wear 
but  really  beautiful  surfaces  . 385.00 

1875-CC  VF-20  $115;  AU-50 . 475.00 

1875-S  VF-30  $95;  EF-50  $169;  Choice  EF-45  $225; 
AU-50  $365;  Uncirculated  MS-60  lightly  toned 
$795;  Choice  BU,  MS-65.  Subtle  light  toning 
over  frost  surfaces . 4,450.00 


1876  Scarce  date.  Rainbow  toning  $495;  Choice 


EF-45.  Nicely  toned  $450;  Select  Proof  63/65 
nearly  as  nice  as  the  Proof-65  which  was  of¬ 
fered  in  Rare  Coin  Review  52.  Sold  quickly  at 
$6,495.  This  piece  is  priced  at  ...  3250.00 

Quarter  Dollars 

1831  Small  letters.  VF-20  . 120.00 

1832  Choice  EF-45.  Good  lustre . 295.00 

1835  VF-30 . 149.00 

LIBERTY  SEATED  QUARTERS 

1844  Select  Brilliant  Uncirculated,  MS-63  with 
prooflike  surfaces . 950.00 

1849  AU-50.  Scarce . 245.00 

1853  Arrows  and  rays.  Choice  AU-55  .  .335.00 

1857  Choice  Extremely  Fine-45  Small  reverse  plan- 

chet  flaw . 95.00 

1857-0  Uncirculated,  MS-60.  Superb  blue-green 
toning . 550.00 

1858  Choice  AU-55  . 175.00 

1862  Choice  AU-55.  Quite  scarce . 275.00 

1876  Choice  AU-55  .  1 75.00 

1877-CC  Choice  AU-55 . 215.00 

1877-S  Over  horizontal  S.  Choice  AU-55.  Well 
struck  with  great  lustre  . 595.00 


*  *  * 

WANT  AN  "INSIDE  TIP"  ON  A  SURE  THING 
INVESTMENT? 

Our  "insiders",  that  is,  our  customers  who 
subscribe  to  all  our  publications,  know  that  for 
only  $35  they  are  making  one  of  the  best  buys 
in  the  business.  A  full  subscription  gets  you  the 
next  six  issues  of  the  Rare  Coin  Review  PLUS  all 
the  auction  catalogues  we  issue  during  an  entire 
year! 

Sign  up  today!  Send  $35  with  your  coin  order 
or  give  us  a  call  and  we  can  charge  your  subscrip¬ 
tion  to  your  credit  card.  I'm  sure  you'll  be 
delighted  with  this  investment  in  some  of  the  finest 
publications  in  numismatics! 

*  *  * 


BARBER  QUARTERS 


1892  Choice  AU-55  . 165.00 


1892- 0  Select  BU,  MS-63/65.  Great  toning  over 

fully  lustrous  surfaces . 895.00 

1893- 0  Choice  EF-45 . 55.00 

1895  Choice  AU-55  $165;  Uncirculated,  MS-60. 
Halo  toning . 295.00 

1899  Choice  AU-55  .  165.00 

1899-0  Unc.,  MS-60.  Scarce  date  .  .350.00 

1902  Select  BU,  MS-63  . 650.00 

1905-S  Choice  AU-55  . 185.00 

1906  Choice  AU-55  .  165.00 

1907  Choice  AU-55  . 165.00 

1908-0  Select  BU,  MS-63/65  . 895.00 


Reflections  on  a  Connecticut  Pond 


by  Q.  David  Bowers 


Among  my  favorite  recollections  are  those  in¬ 
volving  Oscar  C.  Schilke  and  his  wife  Olga,  who 
lived  on  the  shore  of  Dodge  Pond  in  Niantic,  Con¬ 
necticut,  not  far  from  New  London.  During  the 
1960s  I  visited  there  once  each  year,  sometimes 
twice,  usually  alone  but  sometimes  with  Jim  Rud¬ 
dy,  who  was  my  business  associate  at  the  time. 

Oscar  was  certainly  a  "complete"  coin  collec¬ 
tor  and  would  fit  in  nicely  with  the  ideal 
numismatist  envisioned  in  my  article,  "The  'Corn- 
pleat'  Coin  Collector,"  which  began  on  page  35 
of  our  recent  Rare  Coin  Review  Number  53.  In¬ 
deed,  in  my  High  Profits  From  Rare  Coin  Invest¬ 
ment  book  I  gave  Oscar  as  an  ideal  example  of 
a  person  who  truly  enjoyed  coins  for  their  many 
aspects  and  who,  at  the  same  time,  found  them 
to  be  a  wonderful  investment  over  the  years. 

Oscar,  who  died  in  1971,  had  a  long  and 
distinguished  involvement  with  coin  collecting. 
When  his  interest  began,  I  don't  know,  but  he  was 
heavily  involved  by  the  m id-1 930s.  These  were 
years  of  the  Great  Depression,  but,  somehow, 
coin  collecting  was  immune  from  many  of  the 
Depression's  effects.  Indeed,  the  coin  market, 
after  suffering  some  setbacks  in  1930-1933, 
strengthened  considerably,  and  by  1935  and  1936 
a  boom  of  sorts  was  underway,  spearheaded  by 
nationwide  interest  in  commemorative  coins. 

Outside  events  often  influence  numismatics, 
and  in  my  own  experience  which  dates  from  the 
early  1950s  onward,  I  have  seen  numerous  in¬ 
stances  in  which,  almost  like  an  astrological 
prediction,  something  out  of  the  control  of  coin 
collectors  has  had  a  deep  impact.  In  1957  it 
became  popular  knowledge  that  earlier  Proof  sets 
ordered  from  the  Philadelphia  Mint  had  proven 
to  be  spectacular  investments,  so  the  public 
jumped  on  the  bandwagon.  While  many  non¬ 
collectors  limited  their  activities  strictly  to  current 
Proof  sets,  others  became  involved  more  deeply 
and  went  on  to  be  specialist  collectors.  In  1960 
the  Small  Date  Lincoln  cent  set  off  a  nationwide 
treasure  hunt,  setting  the  tone  for  the  modern  coin 
market  as  we  know  it  today.  Time  magazine, 
television  shows,  and  others  told  of  success 
stories— how  a  barber  found  a  $50  sack  of  1960 
Small  Date  Lincoln  cents  and  sold  it  for  more  than 
$10,000— spurring  everyone  to  scramble  to  find 
the  precious  little  copper  things.  Coin  World  was 
launched  and  within  a  few  years  climbed  to  diz¬ 
zying  heights  in  circulation,  achieving  subscriber 
figures  that  have  not  been  equaled  since.  The 
teletype  machine,  something  formerly  relegated 
to  hotel  reservation  desks,  newpaper  newsrooms, 
and  the  like,  became  a  fixture  on  the  numismatic 
scene,  and  by  the  end  of  1962-1963,  well  over 
a  hundred  coin  shops  could  communicate  with 
each  other  via  this  medium.  At  one  time  the  Pro¬ 
fessional  Numismatists  Guild  even  had  its  own 
teletype  circuit. 

Later  outside  influences  having  a  profound  ef¬ 
fect  on  the  coin  collecting  hobby  included  the 
Great  Treasury  release  of  silver  dollars  in  1962, 
the  advent  of  the  1964  Kennedy  silver  half  dollar, 
the  tremendous  public  interest  in  gold  bullion  in 
1971-1973,  and  the  concurrence  of  double-digit 
inflation,  the  OPEC  oil  scare,  the  weakness  of  the 
American  dollar  overseas,  and  high  bullion  prices 
Of  the  1979-1980  years. 

In  each  of  these  historic  instances,  outside  in¬ 
terest  in  coins  has  caused  prices  in  the  numismatic 
market  to  rise  sharply  In  each  instance  prices  fell 


back  after  the  popular  passion  subsided,  but  prices 
never  went  back  to  what  they  were  before  the 
cycle  started.  Indeed,  a  charting  of  numismatic 
market  prices  over  the  years  will  look  something 
like  a  saw  laid  on  edge,  with  many  peaks  and 
valleys,  but  the  sawblade  is  angled  upward.  The 
long  term  trend  has  been  one  of  price 
appreciation. 

Anyway,  Oscar  Schilke  had  his  own  business 
problems  in  the  early  1930s.  Economic  times  were 
tough,  and  Oscar  in  later  years  never  quite  got 
over  the  instance  of  a  Connecticut  contractor  who 
owed  him  $10,000  but  who  filed  for  bankruptcy, 
thus  evading  the  debt.  Years  later,  the  same  con¬ 
tractor  in  the  same  business  was  to  become  im¬ 
mensely  wealthy,  but  he  made  it  clear  to  Oscar 
that  as  he  did  not  legally  owe  him  anything,  Oscar 
was  out  of  luck.  Oscar,  who  had  consummate 
faith  in  human  nature,  felt  otherwise. 

I  first  met  Oscar  Schilke  in  1955  at  an  early 
Metropolitan  New  York  Coin  Convention.  These 
shows,  staged  on  the  lower  level  of  the  old  Park 
Sheraton  Hotel  (which  since  has  changed  its  name 
several  times),  were  under  the  direction  of  Ray 
Gallo.  Ray  took  a  personal  liking  to  me  and  in 
following  years  I  was  always  favored  with  a  nice 
position  right  next  to  the  entrance.  Of  course,  after 


a  few  years  this  position  was  earned  as  by  the 
1960s  there  were  many  dealers  setting  up  at  the 
show  who  had  not  been  in  business  back  in  1955. 

Oscar  liked  stories  connected  with  coins.  In 
many  instances  he  would  offer  me  an  unusual 
piece  and  state  that  the  price  would  be  cheaper 
if  I  could  tell  him  its  background,  a  procedure  that 
Wayte  Raymond,  the  well-known  dealer  of  the 
1930s  and  1940s,  had  done  to  Oscar  earlier. 

A  scholarly  numismatic  student  Oscar  was  not, 
but  he  did  have  a  broad  and  general  apprecia¬ 
tion  of  all  sorts  of  coins  from  colonial  pieces 
through  current  Proof  sets.  One  wall  of  his  den 
in  the  basement  of  his  home  on  Dodge  Pond  was 
devoted  to  numismatic  reference  books  and  old 
auction  catalogues.  Back  in  the  1960s  when  I 
made  my  visits,  there  were  not  nearly  as  many 
references  in  print  as  there  are  today.  Still,  Oscar 
managed  to  have  hundreds  and  hundreds  of  dif¬ 
ferent  information  sources.  Later,  Oscar's  library 
was  purchased  by  Hank  Spangenberger,  the  Ohio 
antiquarian. 

A  typical  day  at  Dodge  Pond  would  be  prefaced 
by  arrival  late  the  night  before.  Then  would  come 
wake-up  time,  usually  around  eight  or  nine.  After 
dressing  and  straightening  up  the  guest  cottage 
not  far  from  the  water,  I  would  make  the  short 


hike  up  the  hill  to  see  Oscar  and  Olga  in  the  main 
house.  On  deck  would  be  a  sumptuous  repast  of 
pancakes,  eggs,  and  other  breakfast  delights 
served  in  a  kitchen  decorated  with  strawberry 
motifs.  And,  decorated  is  an  understatement  for 
everything  was  done  in  strawberries— the 
wallpaper,  the  dishes,  the  china  knickknacks  on 
the  sideboard,  and  even  Olga's  apron.  When  the 
Strawberry  Patch  Restaurant  opened  here  in 
Wolfeboro  a  few  years  ago  it  featured  omnipre¬ 
sent  strawberry  motifs,  prompting  me  to  think  of 
the  "good  old  days"  on  the  shores  of  Dodge 
Pond. 

Oscar  and  Olga  loved  to  eat,  and  their  substan¬ 
tial  figures  reflected  this.  The  best  preparation  for 
a  visit  to  Dodge  Pond  would  be  to  go  on  a  diet 
the  week  before! 

It  wasn't  proper  to  start  looking  at  coins  for  sale 
at  the  beginning  of  my  visit  although  the  ultimate 
purpose  for  coming  was  Oscar's  invitation  to  buy 
a  few  coins  and  sets— he  was  making  an  orderly 
disposal  of  his  collection  acquired  over  a  period 
of  years.  There  were  certain  social  aspects  to  be 
followed.  And,  this  was  fine  with  me.  Right  after 
breakfast  we  would  retire  downstairs  to  the  den, 
take  up  a  couple  easy  chairs,  and  start  talking 


coins,  without  a  hint  of  any  actual  buying  or  sell¬ 
ing.  Like  other  old-timers  in  numismatics,  Oscar 
liked  to  reminisce.  And,  he  liked  coin  people.  He 
was  acquainted  on  a  first-name  basis  with 
anybody  who  was  anybody  in  numismatics  in  the 
northeastern  part  of  the  United  States.  He  told  of 
Tom  Elder,  who  had  a  strong  personality  (to  put 
it  mildly)  and  who  conducted  his  New  York 
dealership  through  a  metal-cage  window,  like  a 
bank  teller.  Elder,  who  once  boasted  that  he  could 
catalogue  1,000  auction  lots  per  day,  seemed  to 
always  be  in  a  hurry  about  things,  according  to 
Oscar.  State  your  business,  conduct  it,  then  leave 
seemed  to  be  the  modus  operandi.  And,  if  some 
person  offended  Elder,  the  use  of  four-letters 
words  was  not  spared. 

The  pace  of  1,000  auction  lots  per  day— if  in¬ 
deed  this  was  ever  achieved— or  whatever  fast 
pace  he  used— took  its  toll  on  accuracy,  for  of  the 
leading  dealers  in  the  New  York  area,  Tom  Elder 
was  the  loosest  when  it  came  to  grading,  accor¬ 
ding  to  Oscar.  This  furnished  endless  opportunities 
for  Monday-morning  evaluations  of  coin  sales  by 
other  dealers  and  his  customers.  Such-and-such 
didn't  sell  well  because  it  was  over  graded  or. 
worse,  was  not  genuine.  These  stories  were 
numerous.  Tom  Elder  had  many  positive  at¬ 
tributes,  and  one  of  these  was  intense  promotion 


-12- 


of  the  coin  collecting  hobby.  He  gave  many  talks 
and  discussions  before  groups,  often  illustrating 
them  with  unusual  pieces,  particularly  in  the  field 
of  obscure  tokens  and  medals. 

At  the  1939  World's  Fair  held  in  Flushing 
Meadows,  not  far  from  Manhattan,  Oscar  saw  a 
machine  that  rolled  out  various  coins  that  were 
fed  into  it.  Of  course,  it  was  intended  that  Lin¬ 
coln  cents  be  used,  but  the  device  was  such  that 
it  would  accept  nickels,  quarters,  and  other  coins 
larger  than  cents.  Oscar  fed  a  few  Lincoln  cents 
through  the  machine  and  quickly  noticed  that 
new  pieces,  when  rolled  out,  lost  their  design,  for 
the  rolled-out  piece  was  simply  a  strip  of  bright 
copper.  However,  a  worn  Lincoln  cent,  particular¬ 
ly  one  that  was  slightly  dirty,  would  be  rolled  out 
with  the  date  and  other  features  sharply  visible. 
This  sparked  an  idea,  and  on  a  subsequent  visit 
Oscar  brought  two  1875-S  twenty-cent  pieces 
from  his  collection.  Back  then  such  coins,  prob¬ 
ably  in  what  we  would  call  Extremely  Fine  grade 
today,  were  apt  to  be  worth  less  than  a  dollar 
each.  The  idea  of  having  a  rolled-out  twenty-cent 
piece  was  immensely  appealing,  for  he  had  never 
seen  such  before  and  was  going  to  be  the  first  to 
create  one!  To  be  sure  that  the  coin  would  not 
be  confused  with  the  rolled-out  quarter  and  to 
make  certain  that  the  legends  would  be  visible, 
Oscar  deliberately  darkened  each  piece.  Then 
each  twenty-cent  piece  was  fed  into  the  maw  of 
the  machine,  run  through  the  rollers  in  its  innards, 
and  disgorged  as  an  unusual  and  "extremely  rare" 
rolled-out  twenty-cent  piece,  with  the  date  and 
mintmark  on  each  sharply  visible. 

Several  times  each  year,  Oscar  would  make  an 
arrangement  with  banks  in  Waterbury,  Naug¬ 
atuck,  Bridgeport,  and  other  towns  to  have  a 
"coin  day."  Advertisements  of  each  bank,  placed 
beforehand,  noted  that  on  a  given  day  a  coin  ex¬ 
pert  would  be  on  hand.  Oscar  was  given  a  cor¬ 
ner  in  the  lobby  to  look  over  any  items  brought 
in.  There  would  be  no  charge  or  obligation.  Oscar 
would  take  up  a  position  in  a  lobby  chair,  have 
a  copy  of  the  Standard  Catalogue  of  United  States 
Coins  at  hand,  and  would  be  set  to  greet  all 
comers.  Although  the  typical  bank  customer  had 
few  coins  of  value,  each  day  would  yield  a  few 
gold  coins,  some  scarce  Indian  cents,  and  perhaps 
even  a  rarity  or  two.  At  one  time  he  was  brought 
an  1842  United  States  Proof  set,  complete  from 
the  half  cent  through  the  silver  dollar,  a  set  that 
today  (1985)  would  be  worth  many  tens  of 
thousands  of  dollars.  Included  in  the  set  was  a 
Proof  example  of  the  1842  Small  Date  quarter,  a 
fantastic  rarity  in  its  own  right.  The  specific  coin 
from  this  set  later  went  to  the  Hollinbeck  Coin 
Company,  then  to  me,  then  to  the  collection  of 
H.B.  Hinman  (The  Century  Collection),  which  I 
subsequently  catalogued  for  auction  for  the  Para¬ 
mount  International  Coin  Corporation  in  the 
mid-1960s.  The  1842  Proof  set  had  rested  in  a 
dresser  drawer  in  an  upstairs  bedroom  in  a  man¬ 
sion  for  many  years  before  Oscar  saw  it.  Whether 
the  set  was  brought  into  the  bank  lobby  or 
whether  Oscar  was  led  by  the  hand  to  the  house 
and  extracted  the  Proof  set  from  its  resting  place, 
I  don't  recall,  but  I  do  know  that  this  was  one  of 
Oscar's  foremost  prizes.  Another  prize  was  a 
beautiful  framed  fractional  currency  shield  which 
belonged  to  a  former  governor  of  Connecticut, 
who  acquired  it  in  the  1860s  at  the  time  of  issue. 
This  shield  was  displayed  for  years  on  Oscar's  den 
wall.  It  was  a  matter  of  special  pride  during  one 
visit  to  Dodge  Pond  when  Oscar  sold  it  to  me. 
Today  it  proudly  hangs  on  my  office  wall. 

Oscar  once  told  of  visiting  a  toll  house  located, 

I  believe,  near  Boston  harbor.  The  facility  had 
been  active  in  the  early  part  of  the  last  century 
in  the  years  prior  to  the  Civil  War.  Oscar  told  of 
visiting  the  abandoned  toll  house,  going  down  a 
flight  of  stairs  to  a  stone  basement,  and  being 


shown  a  safe  or  storage  vault  in  the  floor.  After 
considerable  exertion,  the  lid  to  the  metal  vault 
was  wrested  off,  and  revealed  was  a  cache  of 
United  States  large  cents,  all  dated  1826!  The  con¬ 
dition  varied  from  well-worn  pieces  to  coins  which 
numismatists  might  call  Extremely  Fine  or  About 
Uncirculated.  Obviously,  they  had  been  collected 
over  a  long  period  of  time.  Why  the  date  1826? 
Oscar  never  found  out.  Perhaps  the  year  was 
significant  in  the  life  of  the  toll  collector.  In  any 
event,  hundreds  and  hundreds  of  1826  cents  were 
extracted  from  their  underground  tomb.  Over  the 
next  few  years,  all  dealers  in  the  New  York  City 
and  New  England  area  were  well  equipped  with 
examples  of  this  particular  issue. 

After  a  morning  of  "coin  talk,"  the  time  came 
for  lunch,  again  in  the  strawberry  kitchen.  Typical¬ 
ly,  Olga  had  spent  the  morning  preparing  a 
delightful  repast,  usually  a  sandwich  board  with 
sliced  turkey,  ham,  beef,  and  other  selections. 
After  lunch  it  was  downstairs  again  and  more  tales 
of  Wayte  Raymond,  the  Stack  brothers,  Elder,  and 
other  old-timers.  Oscar  and  his  collecting  friends 
liked  to  play  one-upmanship  with  certain  of  the 
dealers  in  the  city,  who  often  thought  they  knew 
a  lot  and  had  seen  everything  (which  perhaps  was 
true).  The  story  was  told  of  a  tale  fabricated  by 
a  young  couple  who  visited  Morton  Stack  and 
showed  him  an  Uncirculated  1793  large  cent, 
claiming  that  a  group  of  them  had  been  found  in 
an  old  broken-down  grist  mill  they  had  recently 
explored  on  a  farm  they  had  purchased.  Morton, 
of  course,  was  wide-eyed  at  the  possibility  of  ac¬ 
quiring  such  a  rarity,  especially  in  multiples! 
However,  the  couple  didn't  want  to  sell  it— not 
just  yet.  They  went  on  to  tease  the  dealer,  then 
left  with  the  coveted  1793  cent  feigning  they 
hadn't  the  slightest  idea  that  it  was  worth  much 
but,  in  any  event,  they  wanted  to  keep  it  and  the 
others  in  the  hoard  as  souvenirs. 

Coin  clubs  played  an  important  part  in  Oscar's 
life  and  he  was  a  regular  attendee  at  the  New  York 
Numismatic  Club  meetings  each  month.  The  Fair- 
field  County  (Connecticut)  Coin  Club  was  another 
interest,  and  occasionally  the  group  had  a  picnic 
at  Oscar's  home  during  the  summer.  Photographs 
were  taken,  and  Oscar  delighted  in  later  years 
sharing  these  with  me.  He  could  review  a  picture 
of  two  dozen  Fairfield  County  Coin  Club  members 
and  spend  fifteen  minutes  telling  about  each  per¬ 
son!  These  were  from  the  days  when  Oscar  lived 
closer  to  New  York  City— before  he  retired  to  his 
lakeside  home  in  Niantic. 

The  afternoon  of  a  typical  day  on  the  shore  of 
Dodge  Pond  would  come  and  go  with  lots  of  coin 
discussions,  but  nary  a  word  about  actual  buy¬ 
ing  and  selling  about  to  take  place.  Then  would 
come  dinner,  my  treat  at  a  restaurant  to  be  pick¬ 
ed  by  Oscar  and  Olga.  One  of  their  favorites  was 
the  Latchstring  which,  I  believe,  was  in  New  Lon¬ 
don.  Perhaps  it  still  is  in  business  today.  I 
remember  once  we  commented  that  the  word 
"latchstring"  was  unusual  in  that  it  had  six 
consonants—  "tchstr"  in  a  row,  certainly  an  usual 
situation  in  the  English  language.  Oscar  was 
always  noticing  trivial  details  like  this,  and  that  is 
what  made  the  visits  so  interesting  and  so 
memorable.  On  one  visit  he  gave  me  a  detailed 
tour  of  New  London,  showing  me  the  Electric  Boat 
Company  where  atomic  submarines  were  made. 
As  it  happened,  the  Nautilus  was  streaming  by, 
with  the  upper  part  out  of  the  water,  a  grand  and 
historic  sight  to  behold.  I  found  it  interesting  that 
there  were  so  many  private  residences  right  across 
the  river  from  the  submarine  facility.  It  would  have 
been  easy,  I  thought,  for  a  foreign  power  to  set 
up  any  number  of  spies  under  the  guise  of  being 
New  London  citizens.  All  one  would  need  would 
be  a  medium-power  telescope  to  see  what  was 
going  on. 

After  dinner  it  was  back  to  Dodge  Pond  and 


some  more  talk,  but  not  much,  for  Oscar  and  Olga 
usually  turned  in  early.  The  next  morning,  the 
scene  changed,  and  it  was  down  to  business. 
From  some  hidden  location,  Oscar  would  extract 
a  number  of  coins— the  ones  he  wanted  to  sell. 
Each  time  he  had  something  specific  to  offer. 
Once  it  was  a  beautiful  collection  of  large  cents, 
another  time  it  was  a  comprehensive  group  of 
California  small-denomination  or  fractional  gold 
pieces,  and  still  another  time  it  was  a  virtually 
complete  set  of  Philadelphia  Mint  quarter  eagles 
from  1796  onward,  including  all  of  the  1796-1834 
early  issues  (which  I  later  sold  to  Abner  Kreisberg 
and  Jerry  Cohen  intact)  as  well  as  a  complete  set 
of  Matte  Proofs  1908-1915.  Such  things  were  fan¬ 
tastic  rarities,  of  course,  but  back  in  the  early 
1960s  the  values  were  not  all  that  great.  In  later 
years  a  single  item  such  as  the  1 796  quarter  eagle 
would  be  worth  more  on  its  own  than  the  entire 
collection  was  when  I  bought  it! 

Oscar  would  hand  me  a  set  of  coins— an  even¬ 
ly  matched  Uncirculated  collection  of  flying  eagle 
and  Indian  cents  comes  to  mind  as  I  write  this — 
and  ask  me  to  make  an  offer.  Knowing  that  there 
would  be  some  dickering  ahead,  I  might  offer,  say, 
$2,000.  "I  was  thinking  of  more  than  that,"  Oscar 
would  say,  always  with  a  twinkle  in  his  eye.  Oscar 
maintained  his  charm  at  all  times,  and  even  dur¬ 
ing  intense  negotiations,  he  had  a  smile  on  his  face 
and  was  as  cheerful  as  could  be.  And  yet  he  was 
firm.  Finally,  after  at  least  a  half  hour  of  discuss¬ 
ing  the  quality  of  the  Indian  cents,  how  rare  they 
were,  and  so  on,  we  would  compromise  on  a 
price,  say  $2,500,  after  which  the  set  would  be 
mine.  In  the  meantime,  I  was  told  exactly  where 
the  1877  came  from  and  why  it  was  a  special 
piece,  how  he  found  the  elusive  1871  and  1872, 
about  the  1909-S  and  how  it  came  from  Max  Mehl 
(leading  into  a  number  of  side  stories  about  the 
well-known  Texas  dealer)  and  so  on— great  fun! 
Speaking  of  Mehl,  Oscar  mentioned  that  once  he 
bought  a  coin  in  one  of  Mehl's  mail  auctions  but 
was  not  pleased  with  the  condition.  He  dropped 
a  note  to  Max,  of  whom  he  was  a  close  friend, 
and  stated  that  he  didn't  like  the  coin  at  all  and 
would  take  it  up  with  him  in  person  when  he  saw 
him  soon  at  the  forthcoming  American 
Numismatic  Association  convention.  Well,  early 
in  the  convention  Max  spotted  Oscar  first,  came 
over,  shook  his  hand,  and  promptly  invited  him 
out  for  a  grand  dinner— at  which  time  all  thought 
of  bringing  up  the  unwanted  coin  was  promptly 
dismissed  from  Oscar's  mind! 

I  never  knew  the  depth  of  everything  that  Oscar 
collected,  for  he  liked  to  maintain  an  air  of  mystery 
and  would  continually  offer  me  surprises.  I  did, 
however,  get  to  see  his  grand  type  set  of  United 
States  coins  and  paper  money  and  remember  the 
prooflike  1796  quarter,  other  early  silver  issues, 
and  other  delights.  Similarly,  his  currency  collec¬ 
tion,  by  design  types,  was  of  the  finest  quality. 
Oscar  mentioned  offering  it  to  me  sometime  in 
the  future,  but  his  death  intervened,  and  I  do  not 
know  whatever  happened  to  the  collection.  After 
his  death  I  was  told  that  all  of  his  coins  had  been 
sold  earlier. 

It  was  shortly  before  Thanksgiving,  1971,  when 
Olga  telephoned  me  to  say  that  Oscar  had  died. 
She  wanted  me  to  be  a  pallbearer  in  his  funeral, 
and  I  accepted.  It  was  a  very  heart-rending  and 
sorrowful  occasion  when  Oscar  was  laid  to  rest. 
With  his  passing  the  life  of  one  of  America's  finest 
numismatists  ended. 

The  coins  I  bought  from  Oscar  over  the  years 
have  long  since  disappeared  into  collections 
around  the  land,  but  the  memories  will  always  be 
with  me.  Often  in  an  idle  moment  I  reflect  upon 
the  good  times  on  the  shore  of  Dodge  Pond  and 
recollect  another  one  of  Oscar's  anecdotes.  There 
must  have  been  hundreds  and  hundreds  of  stones 
and  I  only  wish  that  I  had  recorded  them  in  detail 


-13- 


1910-D  Select  BU,  MS-63/65  . 895.00 

1911  Choice  EF-45  $49;  Select  Brilliant  Uncir¬ 
culated,  MS-63  . 650.00 

1914  Select  BU,  MS-63  $650;  Select  Brilliant  Un¬ 
circulated,  MS-63/65  . 895.00 

191 5- S  Choice  AU-55  . 165.00 

1916- D  Choice  AU-55  .  165.00 


Box  Special  #7 

Choice  AU-55  coins  make  wonderful  additions 
to  a  type  collection  and  we're  offering  two  very 
popular  coins,  the  Barber  dime  and  the  Barber 
quarter  at  a  special  "as  a  package  price." 

If  ordered  individually  these  two  coins  would 
cost  $264.  You  can  order  this  box  special  and  two 
beautiful  coins  for  your  type  set  for  only  $225! 


STANDING  LIBERTY  QUARTERS 


1917  Type-1.  EF-45  $75;  Choice  AU-55  $160; 
Select  BU,  MS-63,  Full  head  $325;  Select  BU, 
MS-63/65,  Full  head  $995;  Choice  BU,  MS-65, 


Full  head . 1,595.00 

1917  Type-ll.  Choice  AU-55  .  135.00 


191  7-D  Type  II.  Uncirculated,  MS-60  .  .250.00 
1918  Choice  EF-45  $49;  Choice  AU-55  .  .89.00 


191 8- D  Choice  EF-45  $110;  Select  Brilliant  Uncir¬ 
culated,  MS-63/65  . 450.00 

1919  Choice  EF-45  $62;  Choice  AU-55  .  .99.00 

191 9- S  AU-50 . 265.00 

1920  Choice  EF-45  $39;  Choice  AU-55  $85;  Un¬ 

circulated,  MS-60/63  $145;  Select  BU, 
MS-63/65,  Full  head . 650.00 

1921  One  of  the  key  dates  in  the  series.  It's  been 

a  while  since  we've  had  such  attractive,  high- 
grade  coins  to  offer.  AU-50 . 289.00 

1923  Choice  EF-45  $42;  Choice  AU-55  .  .89.00 

1924  Choice  EF-45  $42;  Choice  AU-55  $89;  Select 

BU,  MS-63/65.  Full  head . 650.00 

1924-D  Uncirculated,  MS-60  . 195.00 

1925  Choice  EF-45  $29;  Choice  AU-55  .  .75.00 

1926  Choice  EF-45 . 29.00 

1926- D  Select  BU,  MS-63  $195;  Select  BU, 

MS-63/65 . 295.00 

1927  Choice  EF-45  $29;  Choice  AU-55  .  .75.00 

1927- D  Choice  BU,  MS-65  . 625.00 

1928  Choice  Brilliant  Uncirculated,  MS-65.  Nearly 


full  head . 495.00 

1928-D  Select  BU,  MS-63/65  . 295.00 


1928-S  EF-45  $40;  Choice  BU,  MS-65  .  .535.00 
1929  Choice  EF-45  $29;  Choice  AU-55  .  .70.00 


1929- D  Choice  BU,  MS-65  . 595.00 

1930  Choice  EF-45  $29;  Choice  AU-55  $75; 
Choice  BU,  MS-65  . 450.00 

1930- S  Choice  AU-55  . 75.00 


WASHINGTON  QUARTERS 

This  popular  series  was  the  "best  seller"  in  the 
last  issue  of  the  Rare  Coin  Review.  We  received 
more  orders  for  Washington  quarters  than 
anything  else  and  a  good  number  of  first  time 
customers  ordered  a  "sample"  coin  to  test  our 
grading  and  then  reordered  many  more. 

As  we  mentioned  several  months  ago,  top  quali¬ 
ty  20th-century  coins  are  becoming  much  more 
difficult  to  find.  Many  of  these  coins  which  were 
once  quite  common  were  carelessly  stored  in  rolls 
or  even  bags  and  the  number  of  exceptional 
specimens  was  greatly  diminished. 

In  this  offering  of  Washington  quarters  we've 
made  up  special  groups  of  coins  that  offer  you 
not  only  the  best  in  quality  but  the  best  prices  as 
well. 

If  you've  been  holding  off  on  adding  coins  from 
this  series  to  your  collection,  now  may  be  the  time 
to  buy.  If  response  to  this  offering  is  anything  like 
the  number  of  orders  we  got  from  the  last  Rare 
Coin  Review  then  it  may  be  time  to  hang  up  the 
"sorry  we're  sold  out"  sign. 

1932  First  year  of  type,  issued  to  commemorate 
the  200th  anniversary  of  Washington's  birth. 
MS-60  $29;  MS-63  $59;  MS-65  . 235.00 


1932-D  MS-60  $450;  MS-63  $995;  Choice  BU, 
MS-65 . 3,950.00 


1 932 -S  MS-60  $275;  MS-63  $595;  Choice  BU, 
MS-65,  just  one  in  stock . 1,595.00 

1934  MS-60  $55;  MS-63  $69;  MS-65  ...  1 10.00 

1934-D  MS-60  $89;  MS-63  $175;  Choice  Uncir¬ 
culated,  MS-65  . 459.00 


1935  MS-60  $49;  MS-63  $59;  MS-65  .  .  .  .70.00 

Buy  one  each,  Select  BU,  MS-63,  1932, 
1934,  1935.  For  only  $165.  A  savings  of 
$22.00! 

1935-D  MS-63  $175;  MS-65  . 459.00 

Purchase  both  the  1934-D  and  1935-D  in 
Choice  BU,  MS-65  for  just  $818  and  save 
$100  on  the  pair! 

1 93 5- S  MS-60  $85;  MS63  $120;  MS-65 .375.00 

1936  MS-63  $59;  MS-65  . 89.00 

1936- S  MS-60  $85;  MS-63  $120;  MS-65 .269.00 

1937  MS-65  . 89.00 

1937- D  MS-63  $69;  MS-65  . 130.00 


1937-S  Third  lowest  mintage  in  the  series.  MS-60 


$110;  MS-63  $159;  MS-65  . 435.00 

Add  the  1936-S  and  1937-S,  both  Select  BU, 
MS-63  to  your  collection  as  a  pair  for  $225  and 
you'll  save  $54.00! 

1938  MS-63  $85;  MS65  . 215.00 

1938- S  MS-63  $79;  MS-65 . 215.00 

1939  MS-63  $17;  MS65  . 29.00 

1939- D  MS-63  $49;  MS-65  . 99.00 

1939- S  MS-65 . 215.00 

1940  MS-65  . 29.00 

1940- D  MS-63  $80;  MS-65  .  195.00 

1940- S  MS-63  . 29.00 

1941- D  MS-63  . 26.00 


* 


* 


SORRY 

The  following  letter  from  Mr.  James  Abourezk, 
national  chairman  of  the  American  Arab  Anti- 
Discrimination  Committee,  1731  Connecticut 
Avenue  NW,  Suite  400,  Washington,  D.C.  20009 
is  reprinted  in  its  entirety: 

"You  have  among  your  subscribers  to  the  Rare 
Coin  Review  a  number  of  Americans  of  Arab  de¬ 
scent  who  found  a  letter  which  appeared  in  your 
October-December  issue  hurtful  and  gratuitous 
in  its  mocking  of  Arab  heritage.  Therefore,  I  would 
like  to  express  our  concern  about  the  issue  on 
behalf  of  the  American-Arab  Anti-Discrimination 
Committee. 

"While  we  found  the  story  about  the  Arab  with 
seventeen  camels  humorous,  we  feel  that  the  let¬ 
ter  you  published  in  the  following  issue  was  in¬ 
appropriate  because  rather  than  simply  praising 
the  joke,  it  noted  that  'this  has  to  be  the  only  tran¬ 
saction  in  the  long  history  of  the  Arabs  in  which 
all  Arabs,  in  dealing  with  each  other,  came  out 
with  all  involved  satisfied!' 

"The  writer,  despite  his  obvious  light  tone,  has 
a  stereotyped  view  of  Arabs,  and  your  publica¬ 
tion  of  his  insensitive  letter  was  a  display  of  poor 
judgment.  We  assume  that  a  letter  that  mocked 
other  ethnic  groups  (such  as  the  French,  Italians 
or  Jews)  would  have  been  treated  more 
cautiously. 

"Wouldn't  it  be  appropriate,  therefore,  to  treat 
all  ethnic  groups  with  the  same  respect?  I  look  for¬ 
ward  to  hearing  from  you  regarding  this  matter." 

Editor's  Note:  We  are  sorry  for  any  feelings  that 
might  be  hurt.  It  is  notour  intention  now,  nor  has 
it  ever  been,  to  print  any  matter  in  our  Rare  Com 
Review  or  any  other  publication  that  would  reflect 
unfavorably  on  any  individual  or  group  ot  people 
Our  humble  apologies. 


-14- 


Half  Dollars 


1834  Small  date.  Small  letters.  AU-55,  cleaned 
$170;  Select  BU,  MS-63  . 1,450.00 

1834  Large  date.  Small  letters.  Choice  Extremely 
Fine-45  $135;  AU-50  . 265.00 

1834  Large  date.  Large  letters.  Extremely  Fine-45, 

cleaned . 85.00 

1835  Uncirculated,  MS-60.  Just  a  hint  of  light  ton¬ 
ing  $695;  Select  BU,  MS-63  . 1,450.00 

1836  Uncirculated,  MS-60  $695;  Select  Brilliant 

Uncirculated,  MS-63  .  1,295.00 

REEDED  EDGE  HALF  DOLLARS 


1 795  Very  Fine-30.  Nicely  toned  with  two  old  rim 

nicks . 550.00 

1795  Very  Fine-30.  Small  X  appears  on  eagle's 

breast . 1,150.00 

1808  VF-35  . 85.00 


1812  AU-50  . 295.00 

1814  VF-35  . 85.00 

1821  AU-50  . 265.00 


1822  Select  Uncirculated,  MS-63.  Fully  lustrous 


with  light  halo  toning . 1,450.00 

1823  EF-40  $120;  Choice  EF-45  . 135.00 

1824  AU-50  $265;  AU-55,  cleaned  _ 175.00 


1825  AU-50  $265;  Choice  AU-55.  Superb  rainbow 
toning  $395;  Uncirculated,  MS-60  .  .750.00 

1826  Choice  Extremely  Fine-45  $135;  AU-55, 

cleaned  $175;  Choice  AU-55  $325;  Uncir¬ 
culated,  MS-60.  Halo  toned  $750;  Select 
Brilliant  Uncirculated,  MS-63.  Well  struck  with 
great  lustre . 1,450.00 

1827  Square  base  2.  Choice  EF-45  $135;  AU-50 
$265;  Choice  About  Uncirculated-55  $395; 

Select  Uncirculated,  MS-63  with  light  halo 
toning . 1 ,450.00 

1828  Curl  base  2  in  date.  Choice  EF-45  $135 

Choice  AU-55  $395;  Select  Brilliant  Uncir¬ 
culated,  MS-63/65 . 2,250.00 

1828  Square  base  2.  Choice  AU-55  . .  .  .325.00 

1829  Choice  Extremely  Fine-45  $135;  Choice 

AU-55  . 325.00 

1830  Small  O.  Choice  About  Uncirculated-55  with 

halo  toning . 325.00 

1830  Large  O.  Uncirculated,  MS-60.  Beautiful  halo 

toning . 750.00 

1831  Choice  Extremely  Fine-45.  $135;  Choice 

AU-55  . 325.00 

1832  EF-40  $120;  EF-45 . 135.00 

1833  EF-45,  cleaned  $85;  Uncirculated,  MS-60. 

Attractive  blue-gray  toning  . 675.00 


1837  EF-40  $145;  Choice  EF-45  . 195.00 

1838  EF-40  . 145.00 


LIBERTY  SEATED  HALF  DOLLARS 

1839  Drapery.  Unc.,  MS-60,  cleaned  at  one  time. 

Much  nicer  than  it  sounds  . 295.00 

1840  Small  letters.  About  Uncirculated-50,  attrac¬ 
tive  toning . 1 59.00 

1843  Choice  EF-45  $139;  Choice  About 

Uncirculated-55  .  195.00 

1843- 0  Choice  AU-55 . 195.00 

1844  Choice  EF-45 . 139.00 

1844- 0  Choice  About  Uncirculated-55.  Last  4  of 

date  doubled  . 295.00 

1845- 0  Select  BU,  MS-63,  full  brilliant  with  fros¬ 
ty  devices . 1 ,495.00 

1846  Medium  date.  AU-50  $165;  Choice  About 
Uncirculated-55  .  195.00 

1846- 0  Medium  date.  Choice  EF-45  .  .  .139.00 

1849-0  Choice  About  Uncirculated-55.  Superb 
original  toning  . 225.00 


1853  Arrows  and  rays.  Choice  EF-45  $215;  Un¬ 

circulated,  MS-60.  Beautiful  golden  toning 
$1,950;  Select  BU,  MS-63/65.  Fully  lustrous. 
One  of  the  most  frequently  requested  type 
coins.  This  example  is  surely  one  of  the  nicest 
around . 6,950.00 

1853- 0  Arrows  and  rays.  The  scarcer  New 

Orleans  version  of  this  popular  type  coin. 
Lightly  toned.  EF-40  . 295.00 

1854  Arrows.  Choice  EF-45  $135;  AU-50,  attrac¬ 
tive  toning  $195;  Choice  AU-55  .  .  .  .250.00 

1854- 0  Arrows.  AU-50  $195;  Uncirculated, 

MS-60.  Lightly  cleaned  but  still  a  most  attrac¬ 
tive  coin  and  a  good  value  at . 695.00 

1 855- 0  Arrows.  Choice  EF-45  $1 35;  Choice  AU-55 

$250;  Select  BU,  MS-63/65 . 2,650.00 

1856  Choice  EF-45  $135;  AU-50  .  165.00 

1856- 0  Very  Fine-30  $55;  EF-40  $115;  Choice 

EF-45  $145;  Choice  About  Uncirculated-55. 
Superb  toning . 215.00 

1857  Choice  Extremely  Fine-45  $135;  Choice 

About  Uncirculated-55  .  195.00 

1858  Choice  EF-45  $135;  Choice  About 

Uncirculated-55  . 195.00 

1858- 0  EF-40  $115;  Choice  EF-45  . 135.00 

1859  EF-40 . 1 15.00 

1859- 0  Choice  EF-45 . 135.00 


1859- S  Choice  EF-45.  Scarce .  185.00 

1860- 0  Choice  EF-45  $155;  Choice  About 

Uncirculated-55  . 225.00 

1861- 0  AU-50  . 185.00 

1869-0  Choice  AU-55 . 245.00 

1071  VF-30  . 55.00 

1872  Choice  EF-45 . 135.00 

1872-CC  EF-40.  Scarce  . 395.00 

1874  Arrows.  Choice  Extremely  Fine-45  $235; 

AU-50  with  lots  of  lustre  $425;  AU-55  that  has 
been  cleaned . 295.00 

1875  Choice  Extremely  Fine-45  $135;  Choice 

About  Uncirculated-55  .  195.00 

1875- S  AU-55  . 195.00 

1876  AU-50  .  165.00 

1876- CC  EF-40  . 135.00 

1876- S  AU-50 . 165.00 

1877- S  Select  BU,  MS-63.  Frosty  surfaces  with  light 

toning . 950.00 

1878  Choice  EF-45 . 135.00 

1879  Brilliant  Proof-60.  A  scarce,  low  mintage 

issue  . 995.00 


1880  Very  Fine-30.  Mintage  of  less  than  10,000 

pieces  and  thus  scarce  in  any  grade. 
Specimens  which  actually  saw  circulation  such 
as  this  piece  are  perhaps  scarcer  than  their 
Proof  counterparts . 295.00 

1881  VF-30.  Another  low  mintage  coin.  The  above 
comments  also  apply  to  this  piece  .  .295.00 


1886  Select  Brilliant  Uncirculated,  MS-63.  Love¬ 
ly  multi-hued  toning . 1,650.00 

1891  Choice  AU-55  $250;  Select  BU,  MS-63, 
prooflike . 1 ,395.00 

1891  Choice  Brilliant  Proof-65.  Last  year  of  issue. 
Frosty  devices  and  halo  toning.  One  of  only 
600  Proofs  produced  and  few  survivors  could 
possibly  surpass  this  quality . 3,995.00 

BARBER  HALF  DOLLARS 


1892  Choice  EF-45.  Minor  rim  nick  $1 60;  Choice 

AU-55  . 395.00 

1892-0  Choice  AU-55  . 550.00 

1893  Choice  AU-55  . 395.00 

1894-0  Choice  EF-45  $235;  AU-50  $295;  Choice 
AU-55  . 395.00 


1894-S  Choice  EF-45  $215;  Choice  AU-55.  Very, 
very  close  to  Mint  State,  but  with  some  un¬ 
fortunate  obverse  scratches  $195;  Choice 


AU-55  . 395.00 

1895  AU-50  . 275.00 

1897  Choice  About  Uncirculated-55.  With  one 
minor  rim  nick . 250.00 

1899  AU-50  .  275.00 

1899-0  Choice  EF-45 . 235.00 

1899- S  Choice  EF-45  . 235.00 

1900  Choice  EF-45  $235,  Choice  About 

Uncirculated-55  . 395.00 

1900- 0  Choice  EF-45 . 235.00 

1900-S  Choice  EF-45  .  235.00 


-15- 


1901  Choice  EF-45 . 235.00 

1901- 0  Choice  EF-45.  Scarce . 325.00 

1902- 0  Choice  EF-45 . 250.00 

1903- S  Choice  AU-55  . 395.00 

1905  Choice  EF-45 . 250.00 

1906  AU-50  . 275.00 

1906-0  Extremely  Fine-45,  cleaned  $150;  Choice 
AU-55  . 395.00 


1907-D  Choice  About  Uncirculated-55  $395; 
Brilliant  Uncirculated,  MS-60.  A  bit  weakly 


struck  . 595.00 

1908-D  Choice  EF-45 . 235.00 

1909  Choice  AU-55  . 395.00 

1911  Choice  AU-55  . 395.00 

1912  Choice  EF-45 . 235.00 

1 91 4- S  Choice  AU-55  . 395.00 

191 5- D  EF-40  $185;  Choice  EF-45  $235;  AU-50 

$275;  Choice  AU-55  . 395.00 

1 91 5-S  Choice  AU-55  . 395.00 


LIBERTY  WALKING  HALVES 

191 6  This  first  year  of  issue  is  an  excellent  choice 
for  the  collectors  who  would  like  to  "spice  up" 
their  type  sets  with  something  different.  Choice 
EF-45  $250;  Choice  AU-55.  Very  close  to  Un¬ 
circulated  with  lots  of  lustre  $325;  Select 
Brilliant  Uncirculated,  MS-63.  Strong  strike 
with  beautiful  surfaces . 795.00 


1 91 6-D  AU-50  $225;  Choice  AU-55  $245;  Brilliant 
Uncirculated,  MS-60  . . 375.00 

191 6- S  Choice  Brilliant  Uncirculated,  MS-65. 

Good  strike  and  good  lustre  are  enhanced  by 
light  halo  toning.  Priced  at  only  .  .3,450.00 

1917  Choice  AU-55  . 79.00 

191 7- D  Obverse  mintmark.  Uncirculated,  MS-60. 

Lightly  toned  $525;  Uncirculated,  MS-60/63. 
A  solid  value  at  just . 695.00 


191 7-D  Reverse  mintmark.  Select  Brilliant  Uncir¬ 
culated,  MS-63  )ust  two  tiny  bagmarks  away 
from  being  MS-65  . 1,150.00 

1917  S  Obverse  mintmark  Choice  EF  45.  Lightly 


toned . 325.00 

1917- S  Reverse  mintmark.  Choice  EF-45.  Lots  of 

lustre . 55.00 

191 8- D  Brilliant  Uncirculated,  MS-60  .  .695.00 


191 8-S  Choice  Brilliant  Uncirculated,  MS-65. 

Lustrous  satin  surfaces.  This  coin  would  be 
right  at  home  in  the  best  of  sets  .  .2,750.00 

1920  Choice  AU-55 . 115.00 


1920-D  Unc.,  MS-60/63.  Sharp  strike  .1,200.00 

1920-S  Select  Brilliant  Uncirculated,  MS-63/65. 

A  strong  strike,  great  lustre  and  just  a  few  con¬ 
tact  marks  away  from  the  $3,500+  class  of 


coin.  Priced  to  please  at . 1,895.00 

1927-S  Choice  AU-55  . 289.00 


1929-D  Select  BU,  MS-63  $795;  Select  BU, 
MS-63/65  $995;  Choice  Brilliant  Uncirculated, 
MS-65 . 2,250.00 


1929-S  Choice  BU,  MS-65.  Well  struck  with  super 
lustre  . 2,295.00 


1933-S  Choice  Brilliant  Uncirculated,  MS-65. 

Well  struck  with  satin  lustre  . 2,100.00 

1934  Select  Brilliant  Uncirculated,  MS-63  $179; 
Select  BU,  MS-63/65  $225;  Choice  About  Un¬ 
circulated,  MS-65  . 649.00 


If  you  enjoy  collecting  Walking  Liberty  halves, 
but  don't  want  to  pay  hundreds  of  dollars  per 
coin,  I  suggest  that  you  try  our  Choice  AU  coins. 
These  pieces  are  really  very  nice  and  represent 
an  excellent  value.  Less  than  one  in  ten  of  the 
"AU-55"  coins  we  are  offered  meets  our  stan¬ 
dards.  Since  we've  already  done  the  selecting  for 
you,  you  can  be  assured  of  receiving  really  nice 
coins. 


1934- D  Choice  BU,  MS-65  . 949.00 

1935  Select  BU,  MS-63/65  $150;  Choice  BU, 

MS-65  . 375.00 

1935- D  Select  BU,  MS-63  $449;  Select  BU, 

MS-63/65  $550;  Choice  Brilliant  Uncirculated, 
MS-65 . 1,095.00 

1936  Select  BU,  MS-63/65  $179;  Choice  BU, 

MS-65  . 325.00 

1936- D  Select  BU,  MS-63/65  $295;  Choice  BU, 

MS-65  . 595.00 

1936-S  Select  BU,  MS-63  . 259.00 

1937  Select  BU,  MS-63/65  $195;  Choice  Brilliant 

Uncirculated,  MS-65  $335;  Choice  Brilliant 
Proof-65  . 995.00 


1937-D  Select  BU,  MS-63  $350;  Select  BU, 
MS-63/65  $495;  Choice  Brilliant  Uncirculated, 
MS-65  . 935.00 

1937- S  Select  BU,  MS-63  $275;  Select  BU, 

MS-63/65  $395;  Choice  Brilliant  Uncirculated, 
MS-65  . 865.00 

1938  Select  BU,  MS-63/65  $349;  Choice  BU, 

MS-65  . 675.00 

1938- D  Key  date.  Select  BU,  MS-63  . .  .795.00 

1939  Select  BU,  MS-63  $195;  Select  BU,  MS-63/65 

$275;  Choice  BU,  MS-65 . 495.00 

1939- D  Select  BU,  MS-63  $140;  Select  BU, 

MS-63/65  $225;  Choice  Brilliant  Uncirculated, 
MS-65  . 429.00 

1939- S  Choice  BU,  MS-65  . . 575.00 

1940  Choice  BU,  MS-65  . 269.00 

1940- S  Select  BU,  MS-63/65  . 395.00 

1941  Select  Brilliant  Uncirculated,  MS-63  $85; 

Select  Brilliant  Uncirculated,  MS-63/65  $125; 
Select  Proof-63/65  . 495.00 

1941- D  Select  BU,  MS-63/65  $225;  Choice  Brilliant 

Uncirculated,  MS-65  . 325.00 

1941- S  Choice  AU-55  $59;  Select  BU,  MS-63/65 

$450;  Choice  BU,  MS-65 . 895.00 

1942  Select  BU,  MS-63/65  $125;  Choice  Brilliant 

Proof-65  . 850.00 

1942- D  Uncirculated,  MS-60  . 70.00 

1942-S  Choice  AU-55  $47;  Select  BU,  MS-63  $265; 
Select  BU,  MS-63/65  $375;  Choice  Brilliant  Un¬ 
circulated,  MS-65  . 595.00 


1943  Choice  AU-55  $15;  Select  BU,  MS-63  $95; 

Select  BU,  MS-63/65  $125;  Choice  Brilliant  Un¬ 
circulated,  MS-65  . 195.00 

1943-D  Choice  AU-55  $23;  Choice  Brilliant  Un¬ 
circulated,  MS-65  . 395.00 

1943- S  Choice  AU-55  $42;  BU,  MS-60  $115;  Select 

BU,  MS-63  $275;  Select  BU,  MS-63/65  $375; 
Choice  BU,  MS-65  . 595.00 

1944  Select  BU,  MS-63/65  .  125.00 

1944- D  Unc.  MS-60  $60;  Select  BU,  MS-63/65 

$185;  Choice  BU,  MS-65 . 295.00 

1944- S  Select  BU,  MS-63/65  $325;  Choice  Brilliant 

Uncirculated,  MS-65  . 549.00 

1945- D  Select  BU,  MS-63/65  . 185.00 

1945-S  Select  BU,  MS-63  $145;  Select  BU, 
MS-63/65  $195;  Choice  Brilliant  Uncirculated. 
MS-65  . 350.00 


-16- 


1946-D  Select  BU,  MS-63  $95;  Select  BU, 
MS-63/65  $1 50;  Choice  Brilliant  Uncirculated, 
MS-65  . 230.00 

1946- S  Select  BU,  MS-63  $139;  Choice  Brilliant 

Uncirculated,  MS-65  . 350.00 

1947  Choice  AU-55  $38;  Choice  Brilliant  Uncir¬ 
culated,  MS-65  . 395.00 

1947- D  Select  BU,  MS-63  $1 35;  Select  Brilliant  Un¬ 

circulated,  MS-63/65  $210;  Choice  Brilliant 
Uncirculated,  MS-65  . 395.00 

FRANKLIN  HALF  DOLLARS 

1949  Uncirculated,  MS-60  $85;  Select  BU,  MS-63 

$105;  Choice  BU,  MS-65  $200;  Choice  Brilliant 
Uncirculated,  MS-65  FBL . 395.00 

1949-D  Uncirculated,  MS-60  . 80.00 

1949- S  Uncirculated,  MS-60  $225;  Select  BU, 
MS-63  $280;  Choice  BU,  MS-65  .  .  .  .395.00 

1950  Uncirculated,  MS-60  $80;  Select  BU,  MS-63 

$89;  Choice  Brilliant  Uncirculated,  MS-65 
$125  Proof-63/65  . 425.00 

1950- D  Uncirculated,  MS-60  $40;  Select  Brilliant 

Uncirculated,  MS-63  $48;  MS-65  $95;  MS-65 
FBL  . 215.00 

1951  Choice  Brilliant  Uncirculated,  MS-65  $52; 

Choice  Proof-65  . 249.00 

1951- D  Uncirculated,  MS-60  . 65.00 

1951- S  Uncirculated,  MS-60  $45;  Select  Brilliant 

Uncirculated,  MS-63  . 56.00 

1952  Uncirculated,  MS-60  $17;  Select  BU,  MS-63 

$20;  Choice  Proof-65 . 165.00 

1952- D  Choice  BU,  MS-65  FBL . 100.00 

1952- S  Uncirculated,  MS-60  $42;  Select  Brilliant 

Uncirculated,  MS-63  . 50.00 

1953  Uncirculated,  MS-60  $38;  Select  Brilliant  Un¬ 

circulated,  MS-63  $45;  Choice  BU,  MS-65 
$100;  Choice  Proof-65 . 145.00 

1953- D  Uncirculated,  MS-60  $12;  Select  Brilliant 

Uncirculated,  MS-63  $17;  Choice  BU,  MS-65 
$35;  Choice  BU,  MS-65  FBL . 100.00 

1953-S  Select  BU,  MS-63  $29;  Select  BU,  MS-63/65 
$39;  Choice  BU,  MS-65  . 85.00 


AN  OLD-TIMER! 

We  reprint  the  following  letter  from  C.D.,  a  Pitts¬ 
field,  Massachusetts  collector  who  has  been  a 
client  for  some  time: 

"Thanks  for  sending  me  your  Rare  Coin  Review. 
I  enjoy  reading  them,  and  even  my  wife  (who  does 
not  collect  coins)  enjoys  them!  I  am  sending  you 
my  "want  list"  and  hope  you  have  some  success 
with  it. 

I  was  very  interested  in  reading  your  ad  on  page 
50  concerning  the  29-piece  20th-century  type  set. 
I  have  one  of  these  sets,  and  some  of  the  credit 
for  its  assembly  has  to  go  to  you.  Back  in  1963 
I  had  just  started  to  collect  coins.  I  subscribed  to 
your  catalogues,  and  in  one  of  your  issues  you 
explained  some  of  the  advantages  of  collecting 
a  type  set.  Well,  your  article  did  not  persuade  me 
to  stop  collecting  full  sets  of  coins  but  it  did  give 
me  a  new  collecting  idea. 

So  I  set  out  to  assemble  a  Choice  Brilliant  Un¬ 
circulated  type  set.  I  bought  a  beautiful  1909  In¬ 
dian  cent  at  a  show  for  $12,  an  Uncirculated  1917 
Type  I  quarter  at  an  auction  for  $1 5,  a  Choice  Un¬ 
circulated  1906  Barber  half  dollar  for  $85,  and  a 
Gem  Uncirculated  1900-0  Morgan  dollar  for  $4. 
I  could  go  on  and  on,  but  I'm  sure  you  get  the 
point.  It  has  been  a  lot  of  fun  plus  a  good 
investment. 

Thank  you  for  sending  me  that  catalogue  over 
20  years  ago.  Good  luck  to  you  in  the  future  with 
your  business."— C  D. 


1954  Select  Brilliant  Uncirculated,  MS-63  $13; 

Choice  Proof-65  . 85.00 

1954-D  Uncirculated,  MS-60  . 11.00 

1954-S  Select  BU,  MS-63  $18;  Select  BU,  MS-63/65 
$25;  Choice  BU,  MS-65 . 70.00 

1955  Unc.,  MS-60  $15;  Choice  Proof-65  .69.00 

1958  Choice  Brilliant  Uncirculated,  MS-65  $25; 
Choice  BU,  MS-65  FBL  . 65.00 

1958- D  Select  BU,  MS-63  $14;  Choice  BU,  MS-65 

$25;  Choice  BU,  MS-65  FBL . 65.00 

1959- D  Select  BU,  MS-63  $1  5;  Choice  BU,  MS-65 

$25;  Choice  BU,  MS-65  FBL . 65.00 


Silver  Dollars 

1795  Flowing  Hair.  Two  leaves.  Choice  Extreme¬ 
ly  Fine-45  +  . 5,500.00 

1798  Large  eagle.  Fine-12.  A  defect-free  coin  with 
attractive  toning . 895.00 

1803  VF-30 . 795.00 

LIBERTY  SEATED  SILVER  DOLLARS 

1840  VF-30  . 395.00 

1841  VF-30  $295;  Choice  EF-45  . 395.00 

1842  VF-20  $250;  VF-30  $295;  Choice  EF-45  $395; 
Choice  AU-55.  Medium  dark  original  toning 
$595;  Choice  AU-55  another  coin  in  the  same 
grade  with  just  a  bit  of  light  rubbing  but  with 


brilliant  surfaces . 595.00 

1843  VF-20 . 250.00 

1846  Choice  EF-45  $425;  Choice  About 

Uncirculated-55  . 595.00 

1846-0  VF-30 . 395.00 

1847  VF-30  . 289.00 

1850-0  Scarce  date.  Choice  EF-45 . 895.00 

1859-0  Choice  AU-55  $495;  Brilliant  Uncir¬ 
culated,  MS-60  . 795.00 

1859-S  Good-4  . 225.00 

1860  Fine-15  $400;  EF-40  . 850.00 

1867  EF-40  .  475.00 

1868  VF-20 . 275.00 

1869  Choice  EF-45 . 450.00 

1870  EF-40 . 315.00 

1870-CC  Choice  EF-45.  Less  than  13,000  minted 
and  thus  a  tiny  original  supply  by  silver  dollar 
standards . 695.00 

1871  VF-30  $275;  EF-40  $325;  Choice  EF-45  $395; 

AU-50  $425;  Uncirculated,  MS-60.  Lightly 
toned  with  frosty  devices  . 795.00 


1872  VF-20  $229;  Choice  Extremely  Fine-45  $395; 
Brilliant  Proof-60,  attractive  light  toning.  A 
perfect  selection  for  your  type  set  at  just  a  bit 
more  than  the  price  of  a  common  business 


strike . 995.00 

1872-CC  Good-4.  Scarce  date.  Fill  that  hole  in 
your  set  with  a  problem  free  coin  .  .395.00 

1873  Last  year  of  issue.  VF-30  . 275.00 

-17- 


MORGAN  DOLLARS 


1878-CC  Select  BU,  MS-63  $195;  Select  BU, 


MS-63/65 . 295.00 

1879  Select  BU,  MS-63/65  . 195.00 


1879- 0  Select  BU,  MS-63/65  . 275.00 

1880- CC  Select  BU,  MS-63  $250;  Select  BU, 

MS-63/65 . 295.00 

1880-0  Select  BU,  MS-63  $159;  Select  BU, 
MS-63/65 . 395.00 

1880- S  Select  BU,  MS-63/65  . 120.00 

1881  Choice  BU,  MS-65  . 529.00 

1881 - CC  Select  BU,  MS-63  $250;  Select  BU, 

MS-63/65 . 295.00 


1881-0  Select  BU,  MS-63  $79;  Select  BU, 
MS-63/65 . 195.00 


The 

Bowers  and  Merena  Galleries 
COMPARISON  TEST 

The  Bowers  and  Merena  Galleries  Com¬ 
parison  Test  has  never  been  successfully 
challenged.  But,  we  invite  you  to  try!  After 
receiving  an  order  from  this  issue  of  the  Review 
we  invite  you  to  compare  the  coins  received, 
item  by  item,  with  those  available  from  any 
other  source.  You  have  to  make  an  in-person 
comparison  of  the  coins  we  deliver,  for  com¬ 
paring  them  to  pieces  advertised  by  others  (but 
not  delivered  to  you  or  seen  by  you)  without 
examining  the  quality  is  not  meaningful.  You 
have  30  full  days  to  do  this!  If  you  do  not  agree 
that  the  value  delivered  by  Bowers  and 
Merena  Galleries  is  the  very  best  you  can  buy, 
just  return  the  coins  and  we  will  give  you  an 
instant  refund!  Offhand  you  might  think  we 
are  taking  a  big  chance  by  making  such  a 
challenge.  But,  if  history  repeats  itself,  not  a 
single  coin  will  be  returned  as  the  result  of  an 
unfavorable  comparison! 


1881 -S  Select  BU,  MS-63/65  . 115.00 

1882  Select  BU,  MS-63  . 79.00 


1882-CC  Select  BU,  MS-63  $139;  Select  BU, 
MS-63/65  $179;  Choice  Brilliant  Uncirculated, 


MS-65  . 425.00 

1882-0  Select  Uncirculated,  MS-63  $85;  Select 
Brilliant  Uncirculated,  MS-63/65  ....  175.00 

1882-S  Select  BU,  MS-63/65  $139;  Choice  BU, 
MS-65  . 275.00 

1883  Select  BU,  MS-63/65  . 115.00 


1883-CC  Uncirculated,  MS-60  $115;  Select  BU, 
MS-63  $139;  Select  BU,  MS-63/65  .  .179.00 

1883-0  Select  BU,  MS-63/65  $105;  Choice  BU, 
MS-65  . 250.00 

1883- S  Choice  AU-55  $195;  Select  BU,  MS-63 

$695;  Select  BU,  MS-63/65  . 995.00 

1884  Select  BU,  MS-63/65  . 135.00 

1884- CC  Select  BU,  MS-63/65  . 179.00 

1884- 0  Select  BU,  MS-63/65  . 115.00 

1885  Select  Brilliant  Uncirculated,  MS-63  $65; 

Select  BU,  MS-63/65  . 115.00 

1885- CC  VF-30  $149;  Select  BU,  MS-63  $250; 

Select  BU,  MS-63/65  . 295.00 

1885-0  Select  BU,  MS-63  $79;  Select  BU, 
MS-63/65  $1 15;  Choice  Brilliant  Uncirculated, 
MS-65  . 195.00 

1885- S  Select  BU,  MS-63/65  . 375.00 

1886  Select  BU,  MS-63/65  $119;  Choice  BU, 

MS-65  . 195.00 

1886- S  Choice  BU,  MS-65  . 995.00 


1887-S  Choice  BU,  MS-65  975.00 

1888  Select  BU,  MS-63/65  . 229.00 


1888-0  Select  BU,  MS-63/65  . 179.00 

1888-S  Select  BU,  MS-63/65  $395;  Choice  BU, 
MS-65 . 1,050.00 


1889  Choice  AU-55  $35;  Select  BU,  MS-63/65 

$169;  Choice  BU,  MS-65 . 695.00 

1889-0  Select  BU,  MS-63/65  $595;  Choice 
Brilliant  Uncirculated,  MS-65  . 1,795.00 

1889- S  Brilliant  Uncirculated,  MS-60  $95;  Choice 

BU,  MS-65  . 925.00 

1890  Select  BU,  MS-63  $89;  Choice  Brilliant  Un¬ 
circulated,  MS-65,  prooflike  . 1,895.00 

1890- CC  Select  BU,  MS-63/65  . 495.00 


1890-0  Select  BU,  MS-63  $110;  Select  BU, 


MS-63/65 . 295.00 

1891  Choice  AU-55  $39;  Select  BU,  MS-63/65 

$325;  Choice  BU,  MS-65  . 1,150.00 

1891-CC  Select  Unc.,  MS-63/65  . 495.00 

1891-0  Select  BU,  MS-63  . 179.00 

1892  Select  BU,  MS-63/65  . 495.00 


1892-CC  Brilliant  Uncirculated,  MS-60  $345; 
Select  BU,  MS-63/65  . 525.00 

1892-0  Select  BU,  MS-63/65  $495;  Choice  BU, 
MS-65 . 2,395.00 


1892- S  Choice  AU-55.  Lots  of  lustre.  A  coin  that 

will  look  just  fine  in  an  otherwise  Uncirculated 
set . 995.00 

1893  Select  BU,  MS-63  . 595.00 

1893- CC  Choice  AU-55  $525;  Uncirculated, 

MS-60.  Typical  weak  strike,  but  priced  accord¬ 
ingly  at  . 725.00 

1894  Choice  AU-55  . 595.00 


1894-0  Choice  BU,  MS-65.  Immaculate,  frosty 
surfaces.  One  of  the  nicest  1894-0  dollars  we 
have  ever  seen! . 1 2,500.00 


r?c&  fet 


1894-S  Select  BU,  MS-63  $695;  Select  BU, 
MS-63/65  $995;  Choice  Brilliant  Uncirculated, 


MS-65 . 2,595.00 

1895-0  EF-40  $189;  Choice  EF-45  . 325.00 

1896  Select  BU,  MS-63/65  $110;  Choice  BU, 

MS-65  . 425.00 

1897  Select  BU,  MS-63/65  . 179.00 

1897- S  Select  BU,  MS-63/65  . 315.00 

1898  Select  Brilliant  Uncirculated,  MS-63  $69; 

Select  BU,  MS-63/65  . 115.00 

1898- 0  Select  BU,  MS-63/65  $129;  Choice  BU, 

MS-65  . 395.00 

1898- S  Select  BU,  MS-63  $295;  Select  BU, 

MS-63/65  $595;  Choice  Brilliant  Uncirculated, 
MS-65  . 995.00 

1899  Select  BU,  MS-63/65  . 375.00 

1899- 0  Select  BU,  MS-63/65  $135;  Choice 

Brilliant  Uncirculated,  MS-65  . 385.00 


1899- S  Select  BU,  MS-63/65  $395;  Choice  BU, 

MS-65  . 995.00 

1900  Select  BU,  MS-63/65  $190;  Choice  BU, 
MS-65  . 495.00 

1900- 0  Choice  BU,  MS-65  . 395.00 

1900-0  over  CC  mintmark.  Choice  Brilliant  Un¬ 
circulated,  MS-65  695.00 


18- 


T„_  .  (y  CO. 


FOLLOW-UP  AND  QUESTION:  Ginger  Rap- 
sus,  a  midwestern  reader,  writes: 

“The  latest  issue  of  the  Rare  Coin  Review  is 

the  best  ever!  The  most  enjoyable  part  of  your 
catalogue  is  the  Question  and  Answer  Forum. 
How  many  coin  firms  would  even  bother?  (Not 
many!)? 

“Another  thing  I  like  is  the  sprinkling  of  other 
interesting  items  (besides  coins)  in  the  catalogue. 
I  got  a  chuckle  out  of  the  page  of  misspellings, 
and  I  can  sympathize.  My  last  name  has  been 
misspelled  30  different  ways!  I  sent  a  listing  to 
"The  Book  of  Lists." 

“I've  wondered  what  happened  to  the  1873-S 
Liberty  Seated  dollars.  Is  this  variety  complete¬ 
ly  unknown?  Do  any  exist?  Do  any  references  to 
it  exist?" 

“I  enjoyed  Cal  Wilson's  listing  of  your 
catalogues.  I  am  proud  to  say  I  own  every  one, 
plus  Rare  Coin  Review  issues  from  No.  10  on¬ 
ward.  Speaking  of  old  catalogues,  I  vaguely  recall 
seeing  some  of  your  ads  in  Numismatic  News, 


circa  1969,  for  a  large  hoard  of  Bust-type  half 
dollars  at  reasonable  prices.  I  wish  I  could  go 
back  to  those  days  and  buy  them  all  up  .  .  ." 

ANSWER:  Thank  you  for  your  nice  comments. 
It  is  always  pleasing  to  hear  from  readers  “out 
there."  In  fact,  that's  what  keeps  us  going  here 
at  the  editor's  desk  in  Wolfeboro! 

Although  mint  records  state  that  700  examples 
of  the  1873-S  Liberty  Seated  silver  dollar  were 
minted,  no  specimens  are  known  today. 
Presumably,  such  pieces  were  melted  before  they 
ever  left  the  confines  of  the  San  Francisco  Mint. 
When  it  was  anticipated  that  coins  would  not  be 
needed  for  circulation,  it  was  often  the  practice 
to  destroy  them  at  the  place  of  origin.  Refer  to 
our  description  of  the  1876-CC  twenty-cent  piece 
in  our  Danny  Arnold  and  Romisa  Collections 
catalogue  (September  1984)  and  another 
specimen  of  the  same  rarity  in  our  Emery-Nichols 
Collections  catalogue  (November  1984).  In  this 
instance,  10,000  1876-CC  twenty-cent  pieces  were 
minted,  but  as  it  was  apparent  they  would  not  be 


needed  for  circulation,  it  was  ordered  that  all  be 
melted.  Only  a  few  escaped,  possibly  those  sent 
to  the  Assay  Commission  for  study. 

There  is  always  the  possibility  that  an  authen¬ 
tic  1873-S  Liberty  Seated  dollar  will  show  up, 
especially  if  one  or  more  were  sent  to  Philadelphia 
for  use  by  the  Assay  Commission,  but  not  even 
a  whisper  of  an  authentic  piece  has  ever  reached 
my  ears. 

From  time  to  time  someone  says  he  has  an 
"1873-S  dollar,"  and  on  the  several  occasions  this 
has  occurred  the  piece  invariably  turns  out  to  be 
an  1873-S  trade  dollar,  a  coin  which  is  not  par¬ 
ticularly  rare. 

So  far  as  misspellings  go,  I  believe  it  was  Robert 
Ripley  who  once  in  his  "Believe  It  Or  Not!"  col¬ 
umn  listed  several  dozen  ways  that  Shakespeare 
could  be  spelled.  B.  Max  Mehl,  the  famous  Texas 
dealer  of  years  gone  by,  had  a  framed  group  of 
letters  in  his  office  which  illustrated  diverse  ways 
envelopes  were  addressed  to  him,  including 
misspellings  and  incomplete  addresses.  In  one  in¬ 
stance  an  envelope  was  mailed  in  Illinois, 
addressed  simply:  "To  the  man  who  buys  coins," 
with  no  address  stated,  and  he  received  it! 

*  *  * 

FOLLOW-UP:  A  letter  was  recently  received 
from  Mr.  Leonard  Mendes  Nathan,  whose 
mother  had  some  connections  with  the  Brand 
family.  Mr.  Nathan  wrote  as  follows: 

“I  read  your  book  [ Virgil  Brand:  The  Man  and 
His  Era,  Profile  of  a  Numismatist]  and  it  recalled 
some  very  special  memories  about  Erna  and 
Horace  Brand.  When  you  say  that  the  dispersal 
of  Virgil's  estate  was  a  good  lesson  on  how  not 
to  do  things,  you  don't  know  the  half  of  it!" 

“My  mother  had  known  Erna  slightly,  but  she 
definitely  did  not  like  Horace  and  wasn't  too  im¬ 
pressed  with  Erna.  Then  one  afternoon  she  went 
to  visit  a  friend  of  hers  who  was  in  the  hospital 
and  Erna  was  also  there.  Erna  told  her  that  when 
she  left  the  hospital  she  was  going  to  walk  a  few 
feet  east  into  a  lake.  My  mother  suggested  that 
instead  of  killing  herself  that  afternoon,  they 
both  come  to  my  house  which  was  across  the 
street  and  have  dinner  with  me.  It  was  my  bir¬ 
thday.  So  she  came  over  and  brought  us  up  to 
date  on  the  divorce  proceedings,  etc." 

“At  the  time,  she  and  Horace  were  dividing 
up  his  share  of  the  coins  according  to  order  of 
the  court.  If  I  remember  correctly,  the  coins  were 
kept  in  a  private  room  in  the  First  National  Bank, 
and  the  bank  would  not  permit  them  to  enter 
the  vault  unless  a  third  person  accompanied 
them  because  the  division  usually  ended  in  a 
brawl.  Erna  asked  my  mother  to  accompany  her 
to  these  proceedings,  and  it  became  mother's  job 
to  act  as  referee.  When  matters  became  par¬ 
ticularly  heated,  Horace  would  reach  over  and 
slap  Erna.  It  happened  only  once  because  my 
mother  threatened  to  work  him  over  if  he  did 
that  again.  Also,  Erna  was  paying  for  60  some 
safe  deposit  vaults  and  my  mother  suggested  that 
she  consolidate  the  contents.  They  drove  all  over 
Chicago  and  the  suburbs  and  not  one  contain¬ 
ed  anything.  Erna  accused  Horace  of  cleaning 
them  out,  but  my  mother  was  sure  Erna  had 
emptied  and  forgotten  them. 

“In  his  last  years  Horace  wanted  to  build  a 
memorial  to  his  family  in  Brandville  [located  in 
Missouri].  Through  a  rather  strange  fluke,  w  hich 
is  too  involved  for  me  to  get  into  here,  Erna  had 
all  property  in  her  name  when  she  sued  for 
divorce  but  he  managed  to  get  everything  back 
but  the  huge  mansion  on  Cedar  Street.  It  was 
his  birthplace  and  she  determined  not  to  give  it 
back  to  him.  He  had  written  her  that  he  would 
like  the  house  to  be  shipped  to  Brands  ille  and 
re-erected  there!  Erna  called  me  and  asked  me 


-19- 


to  come  over  and  read  the  letter  and  help  her 
answer  it.  My  mother  was  in  Europe  at  the  time 
so  I  inherited  some  of  these  chores. 

"To  m>  great  surprise  she  agreed  to  Horace's 
request  for  the  mansion,  but  she  wanted  me  to 
write  him  there  would  be  one  reservation.  He 
had  to  take  the  basement  with  it,  because  she 
didn't  want  any  holes  on  her  property. 

“Apparently  Virgil  had  given  her  most  of  his 
Swedish  Plate  money  because  she  gave  me  two 
pieces  one  Christmas.  My  mother  and  I  were 
always  doing  favors  for  her  but  we  could  not, 
of  course,  accept  any  payment.  She  had  owned 
a  page  of  the  Gutenberg  Bible  and  she  wanted 
to  give  this  to  my  mother.  My  mother  would  not 
accept  it  because,  being  Jewish,  she  would  not 
permit  a  mutilated  Bible  in  her  house  and  she 
felt  that  the  Bible  had  been  mutilated  and  the 
pages  sold.  Erna  did  sell  this  for  $1,800.  Frank¬ 
ly,  I  would  like  to  have  had  it. 

“I  realize  your  book  was  primarily  on  Virgil's 
collection,  and  though  I'm  not  a  numismatist, 
I  was  fascinated.  While  Erna  was  very  fond  of 
Virgil,  I  gathered  from  her  information  about 
him  he  just  had  this  terrible  predilection  to  col¬ 
lect  things,  stamps,  coins,  books,  stones,  and  so 
many  other  things.  She  also  indicated  there  was 
a  will  and  that  Virgil  had  been  murdered,  but 
being  an  actress  she  had  a  tremendous  flair  for 
the  dramatic. 

“I  didn't  intend  this  letter  to  be  so  prolong¬ 
ed,  but  I  think  I  could  go  on  forever  on  the  sub¬ 
ject  ..." 

*  *  * 

THE  CURRENCY  MARKET:  Dean  Oakes,  the 
well-known  currency  expert,  wrote  in  September 
concerning  the  market: 

“The  collector  is  now  king.  You  can  now  take 
time,  decide  what  you  want,  and  shop  around. 
As  is  the  case  in  low  markets,  not  everyone  has 
every  note  for  sale  so  you  have  to  compare  and 
perhaps  wait  for  the  grade  you  want.  There  are 
excellent  buys  in  currency  today  for  the  collec¬ 
tor.  Selection  is  good  and  prices  are  down,  so  en¬ 
joy  your  collecting  hobby,  share  it  with  friends, 
read  and  learn.  It  is  still  a  great  hobby,  so  treat 
it  that  way." 

*  *  * 

ABOUT  GRADING:  The  October  1 984  issue  of 
the  Canadian  Rare  Coin  Report  (published  by 
Brian  Cornwell,  Box  5071  Station  A,  Toronto, 
Canada  M5W  1N4),  made  the  following 
comments: 

"IF  DR.  SHELDON  WERE  DESIGNING  HIS 
NUMERICAL  GRADING  SCALE  TODAY,  the 
number  assignments  would  look  a  lot  different 
than  we  now  know  them  to  be.  Recall  that  his 
numbers  were  related  to  the  relative  prices  of 
coins  (in  the  1940s,  when  his  book  was  first 
published)  in  each  of  the  various  grades.  So  a 
VF-20  was  priced  at  about  2Vi  times  a  VG-8,  and 
EF-40  was  2  times  VF-20,  and  so  on.  Using  this 
philosophy  today  for  [certain  choice  early  coins] 
would  mean  that  the  grades  of  VG-8,  Fine-12, 
VF-20,  EF-40,  AU-50,  MS-60,  MS-63,  and  MS-65 
would  now  respectively  read  VG-8,  Fine-14, 
VF-30,  EF-80,  AU-250,  MS-700,  MS,  1200,  and  MS, 
2800.  Two  observations  are  in  order:  (1)  any 
numerical  grading  system  that  is  tied  to  prices  will 
lose  relevance  with  changing  markets,  and  (2)  one 
can  immediately  appreciate  the  tremendous  shift 
m  collector  interest  (and  prices)  to  the  high  grades 
that  has  occurred  in  the  last  40  years.  That  typical 
price  ratio  between  MS-65  and  VG-8  of  about  8 
to  1  in  the*  1940s  is  now  350  to  1!" 

C OMMENT:  The  Sheldon  Numerical  Grading 
System  was,  as  Mr.  Cornwell  states,  ideal  for 
market  pnres  in  the  1940s,  but  it  is  of  little  use 


with  regard  to  market  prices  today.  Dr.  Sheldon, 
whose  Early  American  Cents  book  (name  later 
changed  to  Penny  Whimsy)  was  published  in 
1949,  attempted  to  create  a  system  whereby  large 
cents  (no  attempt  was  made  to  extend  this  system 
to  other  series)  could  be  graded  and  priced  ac¬ 
cording  to  a  formula.  Each  cent  variety  was  given 
a  Basal  Value,  which  ranged  from  below  $1  for 
very  common  issues  up  to  several  dollars  or  more 
for  scarcer  pieces.  The  theory  was  that  an  exam¬ 
ple  of  a  variety  could  be  evaluated  by  multiply¬ 
ing  its  Basal  Value  by  the  grade  on  the  Sheldon 
Numerical  Scale.  Thus,  a  large  cent  with  a  Basal 
Value  of  $5  would  be  worth  $20  in  VG-4  grade 
and  $300  in  MS-60  grade.  As  Mr.  Cornwell  has 
noted,  the  market  conditions  of  the  1940s  has 
changed  dramatically,  and  such  ratios  are  no 
longer  in  effect. 

Today,  the  Sheldon  Numerical  Scale  has  a 
number  of  flaws.  First,  it  cannot  be  used  at  all  to 
calculate  market  values  of  large  cents  or  anything 
else.  Second,  the  numbers  on  the  scale  are  very 
erratically  spaced  in  relation  to  current  market 
value  indexes.  In  the  condition  of  Very  Fine  there 
are  nearly  20  numbers,  from  VF-20  to  the  lowest 
number  for  the  higher  grade,  EF-40.  On  the  other 
hand.  Uncirculated  coins  are  squeezed  into  just 
10  numbers:  MS-60,  MS-63,  MS-65,  MS-67,  MS- 70, 
with  some  grades  separated  just  by  two  number 
spaces!  Does  it  make  sense  to  separate,  for  ex¬ 
ample,  VF-20  and  EF-40  by  20  spaces,  but  to 
separate  Select  Uncirculated  (MS-63)  and  Choice 
Uncirculated  (MS-65)  by  just  two  spaces?  You 
figure  it  out,  because  I  can't! 

Additionally,  the  use  of  numbers  tends  to  con¬ 
fuse  collectors  and  dealers  alike.  They  are  apt  to 
read  into  the  system  a  precision  which  simply  isn't 
there.  And,  that  numbers  cannot  be  dealt  with 
mathematically.  For  example,  if  three  "grading  ex¬ 
perts"  see  a  coin,  and  two  say  a  coin  is  MS-60 
and  one  says  it  is  AU-55,  in  essence  two  people 
are  saying  that  it  is  Uncirculated  (MS-60)  while  one 
says  it  is  About  Uncirculated.  So,  stated  another 
way,  the  majority  of  the  experts  consider  it  to  be 
an  Uncirculated  coin.  However,  mathematical¬ 
ly,  if  the  55,  60,  and  60  numbers  are  added 
together  and  then  divided  by  three,  one  has  a  sum 
of  175  divided  by  three,  or  58.  Thus, 
mathematically  the  opinion  can  be  given  that  the 
coin  is  AU-58,  a  hypothetical  grade,  but  in  any 
event  less  than  Uncirculated,  which  begins  at 
MS-60. 

In  my  opinion,  numbers  have  added  to  the  con¬ 
fusion  surrounding  grading.  The  old  adjectival 
grades  of  Fine,  Very  Fine,  Extremely  Fine,  AU,  Un¬ 
circulated,  Choice  Uncirculated,  and  so  on  did 
well  for  generations  of  numismatists  who  happi¬ 
ly  collected  and,  upon  selling,  generally  did  well 
with  their  holdings.  Sure,  there  were  grading 
disputes  a  century  ago,  there  were  grading 
disputes  a  decade  ago,  there  are  grading  disputes 
now,  and  there  will  be  grading  disputes  ten  years 
from  now.  Grading  is  a  matter  of  opinion,  and 
there  will  not  only  be  legitimate  differences  of  opi¬ 
nion  (which  usually  cause  little  in  the  way  of  pro¬ 
blems),  but  those  wishing  to  over  grade  will  do 
so,  regardless  of  whether  we  have  numbers,  let¬ 
ters,  adjectives,  or  whatever. 

For  my  own  company's  part,  we  will  still  use 
the  numbers  so  long  as  clients  seem  to  want  them, 
but  should  they  be  abolished  we  would  be  the 
first  to  say  "amen." 

*  *  * 

QUESTION:  I  read  Paul  Green's  interview  with 
you  in  the  September  15  issue  of  “Numismatic 
News."  I  found  it  interesting  and  informative. 
The  part  which  attracted  my  attention  was  your 
discussion  of  your  background.  I  am  a  structural 
engineer  and  have  a  natural  interest  in  someone 


who  started  his  education  as  a  civil  engineer  and 
ended  as  a  coin  dealer. 

In  the  times  in  my  career  when  I  have  con¬ 
sidered  doing  something  besides  engineering  (in¬ 
cluding  part-time  coin  dealing)  I  have  always  had 
the  idea  of  producing  things  in  the  back  of  my 
mind.  That  is,  if  one  becomes  a  coin  dealer  he 
becomes  a  middle  man.  Providing  a  service,  but 
not  building  something  or  producing  anything, 
like  a  road  or  building.  I  do  not  mean  to  slight 
dealers  or  merchants. 

I  have  read  some  of  your  books  and  articles. 
I  consider  them  well  written  and  methodical. 
Since  I  respect  your  scholarship  and  I  know  that 
you  are  partially  trained  in  engineering,  I  hope 
you  would  share  your  thoughts  with  me. 

Do  you  feel  any  sense  of  loss  in  moving  away 
from  creative  or  front-line  fields  (artist  or 
engineering)  into  the  role  of  a  merchant?  What 
type  of  emotional  trade-off  did  you  make  to 
become  a  coin  dealer  and  leave  engineering?  Or 
did  you  enjoy  coin  dealing  so  much  that  you 
never  looked  back? 

I  don't  consider  engineering  or  commercial  art 
to  be  the  heights  of  creativity  for  everyone  and 
all  cases.  And  I  know  that  engineers  do  have  the 
tendency  to  reach  a  peak  in  their  careers  unless 
they  expand  into  their  own  business.  But  despite 
the  possibly  of  greater  rewards  in  a  service  in¬ 
dustry,  I  would  honestly  like  your  view  on  the 
relative  merits  of  each  path. 

Well,  from  all  your  advertising  I  can  see  that 
you  are  quite  busy  with  cataloguing  and  writing. 
Still,  I  hope  that  you  will  respond  when  you  have 
the  opportunity. — J.K. 

ANSWER:  When  I  entered  the  Pennsylvania 
State  University  in  1956  I  signed  up  for  civil 
engineering  as  a  major  simply  because  my  father 
was  in  the  business  and  as  I  enjoyed  mathematics 
and  related  subjects.  In  my  freshman  year  at  Penn 
State  I  entered  a  competition  with  other  first-year 
students  and  won  the  Freshman  Math  Prize,  con¬ 
sisting  of  a  book  on  mathematics  presented  by 
General  Electric  (or  was  it  Westinghouse?— the 
book  bound  in  bright  green  is  on  a  shelf 
somewhere  or  other).  At  the  time  I  considered  that 
engineering  was  a  "valid"  profession  whereas 
coin  dealing  was  not.  That  is,  looking  at 
numismatics  as  a  career  opportunity,  I  was  able 
to  determine  that  not  more  than  a  few  dozen  peo¬ 
ple  made  a  descent  living  doing  it,  and  even  that 
estimate  might  be  on  the  high  side.  These  were 
before  the  glory  days  of  the  hobby,  and  a  truly 
huge  auction  sale  would  do  well  to  realize 
$50,000,  and  a  major  collection  might  be  worth 
$20,000  or  so.  I  asked  a  few  acquaintances  what 
a  typical  annual  gross  sales  volume  might  be  and 
I  was  told  that  probably  not  more  than  four  or 
five  dealerships  in  America  had  total  sales  of 
$1 00,000  or  more,  with  the  net  to  the  proprietor 
being,  of  course,  just  a  tiny  fraction  of  that.  So, 
from  the  objective  viewpoint  of  a  young  college 
student,  I  simply  felt  that  there  were  few  career 
opportunities  in  professional  numismatics.  On  the 
other  hand  there  were  tens  of  thousands  of 
engineers  earning  a  decent  living. 

The  idea  of  "building  something"  or  doing  a 
"service  to  mankind,"  while  a  suitable  subject  for 
me  to  reflect  upon  now,  was  not  a  practical  con¬ 
sideration  back  in  1966.  Rather,  how  to  earn  a 
living  at  something  that  was  interesting  to  me  was 
more  important. 

A  couple  years  later  a  college  friend,  Darlene 
Andersen,  was  reading  a  copy  of  Empire  Topics, 
the  early-day  equivalent  of  the  present-day  Rare 
Com  Review.  I  was  planning  to  write  an  article 
for  the  next  issue  and  was  struggling  to  get  the 
necessary  words.  Darlene,  a  journalism  major, 


-20- 


had  some  very  nice  things  to  say  about  the  way 
I  strung  words  together  in  sentences.  I  credit  her 
for  giving  me  the  inspiration  that  led  me  to  go  fur¬ 
ther  into  numismatic  writing.  Then,  too,  the  Em¬ 
pire  Coin  Company  which  was  formed  on  April 
1,  1958,  by  Jim  Ruddy  and  myself,  was  achieving 
a  niche  in  the  marketplace.  A  year  earlier,  1957, 
Maurice  M.  Gould,  one  of  the  most  prominent 
numismatic  personalities  of  the  time,  referred  to 
me  as  a  "well-known  dealer"  in  an  article  that 
he  did  for  The  Numismatist.  Bit  by  bit,  item  by 
item,  I  began  to  realize  although  I  might  be  on 
my  way  to  being  a  civil  engineer  by  study,  in  fact 
I  was  a  professional  numismatist  already!  I  then 
considered  changing  my  major,  which  I  did, 
choosing  finance  and  taking  courses  in  economics 
(which  seemed  to  be  a  rather  "black  art"  type  of 
subject— then  as  now),  accounting,  history,  adver¬ 
tising,  and  so  on.  I  am  not  aware  of  any  moment 
of  brilliant  illumination  on  the  subject:  the  realiza¬ 
tion  simply  happened  over  a  period  of  time.  Soon, 
Empire  Coin  Company  seemed  to  have  the  poten¬ 
tial  for  really  earning  a  nice  living,  perhaps  not 
as  much  as  a  civil  engineer  would  earn,  but  still 
enough  to  take  care  of  basic  expenses.  So,  the 
die  was  cast. 

Now  I  am  very  pleased  and  proud  of  the  deci¬ 
sion.  So  far  as  "building  something"  goes,  I  like 
to  point  to  books  I  have  written,  sales  I  have 
helped  to  conduct,  and  other  "building  blocks" 
along  my  path.  While  these  do  not  take  the  form 
of  concrete  and  stone,  still  they  have  achieved  a 
wide  distribution  among  many  thousands  of  peo¬ 
ple  and,  so  I  like  to  think,  have  brought  happiness 
to  numerous  other  hobbyists.  In  my  opinion  there 
is  nothing  wrong  with  making  people  happy  or 
helping  them  enjoy  something.  After  all,  even  the 
most  ardent  civil  engineer  probably  devotes  at 
least  a  part  of  his  energy  to  working  so  he  can 
earn  money  to  pursue  a  hobby— whether  it  be 
boating,  stamp  collecting,  traveling,  or 
numismatics.  Time  and  time  again  I  have  talked 
with  successful  surgeons  and  other  medical 
specialists,  with  "captains  of  industry"  whose 
companies  are  listed  in  the  Fortune  500,  and 
others  who  have  told  me  that  despite  whatever 
successes  they  have  achieved  on  the  operating 
table  or  in  the  boardroom,  a  good  share  of  the 
fun  they  have  had  in  life  has  come  from  coin  col¬ 
lecting  and  I  have  helped  with  that  enjoyment. 
Similarly,  but  on  a  much  grander  scale,  Walt 
Disney  left  a  legacy  of  making  people  happy. 
There  are  millions  of  people  all  over  the  world 
who  may  never  see  the  physical  structures  at 
Disneys  land  or  Disney  World  but  whose  lives 
have  been  enriched  by  Mickey  Mouse,  Donald 
Duck,  or  other  of  his  cartoon  characters. 

So  far  as  finite  buildings  and  structures  go,  I  ven¬ 
ture  to  say  that  some  of  the  catalogues  of  the 
Chapman  Brothers  have  long  outlived  many 
houses  and  commercial  buildings  built  in 
Philadelphia  and,  so  far  as  I  know,  have  meant 
more  to  a  wider  group  of  people. 

While  I  have  no  pretentions  of  grandeur  as  a 
rare  coin  dealer,  it  is  always  a  source  of  satisfac¬ 
tion  to  me  when  I  receive  a  letter  from  a  client 
or  friend  saying  that  our  Rare  Coin  Review,  one 
of  our  auction  catalogues,  or  some  other  publica¬ 
tion,  or  coin  transaction,  have  brought  happiness 
and  enjoyment  into  his  life.  At  an  early  age  I  was 
influenced  by  the  several  books  of  Dr.  Raymond 
L.  Ditmars,  who  was  associated  with  the  New 
York  Zoological  Gardens  (the  Bronx  Zoo)  prior 
to  his  death  in  1942.  I  read  avidly  of  his  "adven¬ 
tures  with  reptiles,"  how  he  tracked  down  dif 
ferent  species,  learned  their  habits  and  then 
displayed  them  to  the  satisfaction  and  enjoyment 
of  thousands  of  visitors  to  his  facility.  Although 
Ditmars  did  not  "build"  anything,  I  like  to  think 
that  he  left  a  rich  legacy.  Certainly  it  influenced 
me  ten  years  later  when  I  eagerly  tracked  down 


each  of  his  books  I  could  find  in  the  Osterhout 
Memorial  Library  in  Wilkes-Barre,  Pennsylvania, 
near  where  I  lived. 

At  this  point  it  would  be  difficult  to  discuss  the 
relative  merits  of  each  path,  as  you  asked  me  to 
do,  for  I  never  did  pursue  engineering  or  the  other 
subject  you  mentioned:  commercial  art.  I  am  sure 
that  there  are  some  engineers  who  consider  their 
work  drudgery  and  should  be  doing  something 
else.  Even  if  they  leave  behind  them  fantastic 
buildings  and  other  monuments,  I  suggest  that 
their  lives  are  unfulfilled  and  that  they  did  not  have 
a  good  time  doing  it.  Balancing  these  are  many 
engineers  who  take  pride  in  their  work  and  who 
lead  rewarding  lives  as  a  result. 

No  matter  what  one  does,  I  think  the  best  ob¬ 
jective  is  to  do  it  well.  I  would  find  it  a  disagreeable 
task  to  try  to  rank  professions  in  order  of  desirabili¬ 
ty.  Some  might  consider  coin  dealing  to  be  at  the 
bottom  of  the  list  and  civil  engineering  to  be  at 
the  top.  My  own  advise  is  to  follow  something  that 
interests  you,  study  it  carefully,  and  do  it  well— 
with  credit  and  respect  to  all  you  come  into  con¬ 
tact  with. 

*  *  * 


QUESTION:  I  have  received  your  excellent 
"Rare  Coin  Review"  and  have  always  enjoyed 
your  almost  perfect  offerings  and  your  in¬ 
teresting  articles.  What  made  me  write  to  you 
is  the  following  problem  that  I  wish  you  could 
either  confirm  or  deny  or  at  least  help  me  find 
the  solution  for.  Before  I  start  the  problem,  I  pro¬ 
mise  if  you  can  convince  me  I  am  wrong  I  pro¬ 
mise  to  buy  at  least  $15,000  dollars  worth  of 
coins  from  Bowers  and  Merena  Galleries  during 
the  next  twelve  months — fair  enough?  I  became 
aware  of  the  problem  about  two  years  ago  and 
it's  been  bothering  me  ever  since. 

The  problem  is  that  if  a  given  coin  has  a  "bid" 
price  in  [a  leading  newsletter]  at  $65  and  an 
"ask"  price  of  $72,  this  piece  will  most  likely  be 
offered  for  $100  retail,  which  is  fine  with  me  as 
long  as  it  is  graded  properly.  Now,  if  a  buyer  puts 
his  money  in  a  ten  percent  savings  account  in¬ 
stead  of  buying  the  coin,  and  assuming  this  coin 
makes  an  average  of  a  twenty  percent  gain  per 
year  (which  is  a  generous  assumption),  it  will 
take  seven  years  for  this  buyer  to  catch  up  with 
bank  interest.  By  my  calculations,  $100  in  the 
bank  after  one  year  would  be  worth  $1 10,  where 
as  the  $65  bid  price  would  increase  after  one  year 
to  $78.  After  five  years  both  figures  equal  $161, 
but  there  is  no  assurance  that  the  coin  can  ac¬ 
tually  be  sold  at  "bid,"  it  may  have  to  be  sold 
for  less.  Isn't  it  better  for  a  buyer  to  keep  money 
in  the  bank  and  have  access  to  it  rather  than  buy¬ 
ing  coins?  Except  for  features  that  you  cite — 
enjoyment,  romance,  and  love  of  collecting — 
should  one  bother  with  coins  as  an  investment? 
Please  clarify.  — K.R. 

ANSWER:  It  has  always  been  my  suggestion  that 
coin  investment  should  be  considered  as  a  long¬ 
term  proposal.  In  my  High  Profits  From  Rare  Coin 
Investment  book  I  specifically  mention  that  buy¬ 
ing  and  selling  coins  on  a  short-term  basis  will  only 
make  money  for  dealers,  not  for  investors.  In  my 
opinion,  the  best  length  ^f  time  to  hold  a  coin  is 
five  to  ten  years  or  more.  While  profits  are  not 
assured,  the  chances  are  much  better  to  achieve 
profits  this  way.  The  actual  length  of  time  need¬ 
ed  to  show  a  nice  profit  will  depend  on  the  posi¬ 
tion  in  the  market  cycle.  Coins  bought  during  the 
height  of  the  market  in  1979-1980  may  have  to 
wait  a  long  time  in  order  to  achieve  a  nice  profit, 
whereas  coins  bought  in  the  recent  market  at  a 
lower  level  will  do  better  sooner. 

Coins  are  less  liquid  than  money  in  the  bank, 
as  you  rightfully  point  out.  However,  liquid  in¬ 


vestments  are  not  necessarily  always  the  best  in 
vestments.  Money  in  a  bank  for  the  past  30  years 
would  not  have  performed  nearly  as  well  as  rare 
coins,  even  if  you  were  to  sell  your  coins  at  only 
half  the  "bid"  prices.  In  fact,  if  you  were  to  sell 
them  at  only  one-fifth  of  the  "bid"  prices,  coin 
investment  would  have  spectacularly 
outperformed  money  in  the  bank! 

In  my  opinior,  "bid"  prices,  while  useful,  do 
not  necessarily  constitute  a  market.  In  my  own 
experience,  there  are  many  coins  for  which  my 
firm  will  pay  substantially  more  than  "bid"— or 
for  which  coin  dealers  will  buy  in  our  auctions  for 
substantially  more  than  the  "bid”  price.  On  the 
other  hand,  there  are  pieces  which  seem  to  be 
worth  less  than  the  "bid"  figures.  It  seems  to  me 
that  such  published  figures  are  quite  iffy— they 
represent  what  someone  might  pay  if  they  need 
the  piece. 

To  the  best  of  my  knowledge,  no  great 
American  fortunes  were  ever  made  by  putting 
money  in  a  bank.  Rather,  risk  investment  has  been 
the  key,  whether  it  be  real  estate,  investing  in  a 
growing  business,  or  buying  coins.  Actually, 
money  in  the  bank  is  not  necessarily  risk-free,  as 
an  increasing  number  of  bank  failures  currently 
seems  to  indicate.  In  any  event,  coin  investment 
can  stand  well  on  its  record  and  anyone  who 
entered  the  field  a  number  of  years  ago  and  who 
built  a  meaningful  collection  has  made  a  nice  pro¬ 
fit  upon  its  sale,  to  my  knowledge.  I  have  never 
advocated  that  one  borrow  money  to  buy  coins 
or  that  one  should  cash  in  large  numbers  of  other 
assets.  However,  I  see  no  reason  why  some 
percentage  of  one's  investment  portfolio  should 
not  be  placed  in  coins— perhaps  thirty  percent  to 
fifty  percent.  These  numbers,  of  course,  depend 
on  the  individual  person.  Under  no  circumstances 
would  I  recommend  anyone  investing  in  coins  if 
they  did  not  have  confidence  in  the  hobby  or  in¬ 
terest  in  numismatics.  Given  confidence,  interest, 
and  a  willingness  to  learn,  the  potential  coin  in¬ 
vestor  will  do  very  well,  in  my  opinion. 

♦  *  * 

QUESTION:  Here's  a  question  which  I  would 
like  to  have  you  answer:  As  a  collector  of  Liber¬ 
ty  Seated  dimes  and  as  a  subscriber  to  both 
"Coin  World"  and  "Numismatic  News,"  which 
publication  can  I  believe  when  I  see  such  ex¬ 
amples  as  an  1872-CC  listed  at  $1,250  in  "Coin 
World”  "Trends"  and  $2,250  in  "Numimatic 
News"  "Coin  Market,"  both  valuations  being 
for  Extremely  Fine-40  grade?  What  is  the  reason 
for  this  huge  discrepancy?  — C.H.B. 

ANSWER:  For  the  most  precise  answer  to  this 
you  should  address  the  publications  involved,  but 
I  suspect  that  each  figure  is  simply  an  estimate, 
and  people  on  the  editorial  staff  of  each  periodical 
differ  in  their  ideas.  Actual  market  transaction  in¬ 
volving  1872-CC  dimes  in  Extremely  Fine  grade 
are  few  and  far  between.  In  fact,  Auction  Prices 
Realized,  published  by  Krause  Publications,  1984 
edition  (the  latest  edition  published),  lists  just  two 
auction  appearances  for  the  1 872-CC  in  any  grade 
for  the  preceding  year,  1983.  Kagin's  sold  a  Very 
Fine  piece  for  $450,  while  Herbert  Melnick  sold 
a  Fine  example  for  $500.  So,  the  higher  figures 
you  read  about  for  Extremely  Fine  pieces  were 
editorial  efforts  at  estimating  the  value  of  the 
significantly  better  specimen. 

*  *  * 

QUESTION:  I  was  so  impressed  with  my  sam¬ 
ple  copy  of  your  "Rare  Coin  Review"  that  I  have 
subscribed  to  your  next  six  issues.  I  just  have  one 
question:  You  mentioned  Liberty  Seated  half¬ 
dimes  along  with  some  other  issues,  as  being 
undervalued.  I  agree,  but  why  didn't  you  men¬ 
tion  Liberty  Seated  dimes  as  well?  Is  there 
something  I  am  overlooking?  — B.F. 


-21- 


ANSWER:  In  my  opinion  there  are  many  Liberty 
Seated  issues,  even  common  dates,  which  are 
undervalued  on  today's  market.  I  personally  think 
that  Liberty  Seated  dimes  are  the  most  fully-priced, 
so  that  is  probably  why  I  did  not  include  them 
in  my  earlier  comment  (you  do  not  mention 
where  you  saw  the  comment,  so  I  cannot  be  more 
specific).  While  MS-65  coins  and  Proof-65  coins 
in  the  Liberty  Seated  series  are  very  expensive, 
there  are  many  superb  values  to  be  had  among 
pieces  grading  from  VF-30  through  MS-63.  In  fact, 
most  of  these  issues  are  undervalued  in  terms  of 
comparison  with  later  coinage.  I  feel  that  the 
Liberty  Seated  dimes  of  common  dates  are  less 
undervalued  than  the  others,  and,  as  noted,  that 
is  probably  why  I  did  not  mention  them. 

*  *  * 

QUESTION:  Concerning  your  request  about 
coin  hoards  which  appeared  in  your  "Rare  Coin 
Review"  last  summer,  what  about  the  cache  of 
200  or  so  twenty-cent  pieces  found  in  an  old 
house  around  the  summer  of  1970 — which  I 
think  was  publicized  either  in  "Coin  World"  or 
some  other  national  coin  magazine.  I  would 
greatly  enjoy  a  follow-up  on  this  subject  in  a 
future  "Rare  Coin  Review." — M.E. 

ANSWER:  I  am  not  aware  of  this  hoard,  so  if 
some  Rare  Coin  Review  reader  will  furnish  more 
information  on  it  I  would  be  pleased  to  reprint 
it  in  a  future  column. 

*  *  * 

QUESTION:  I  am  interested  in  Confederate 
States  of  America  coinage  and  would  appreciate 
your  comments  on  a  couple  of  matters.  First,  I 
have  noticed  in  the  market  a  few  offerings  listing 
Confederate  States  of  America  restrike  half 
dollars  as  well  as  the  related  Scott  White  metal 
tokens.  I  wonder  if  you  could  tell  me  what  would 
be  an  appropriate  price  to  pay  for  such  items? 
Generally,  I  have  found  that  the  half  dollar 
restrike,  usually  listed  in  Uncirculated  grade, 
commands  a  price  of  $1 ,600-$1,800  while  the 
Scott  token  in  comparable  condition  lists  for 
$600-$700. 

Second,  I  would  appreciate  any  information 
you  might  have  on  a  book  which  deals  exclusive¬ 
ly  with  the  aforementioned  coins.  I  have  various 
clippings,  as  well  as  the  Garrett  Collection  sales 
catalogue  which  lists  some  Confederate  States 
of  America  items,  but  I  have  been  unable  to 
locate  a  text  on  the  subject.  — S.Y. 

ANSWER:  I  am  not  aware  of  any  text  which 
deals  exclusively  with  Confederate  items,  but  I  can 
refer  you  to  my  The  History  of  United  States 
Coinage  as  Illustrated  by  the  Garrett  Collection 
book  which  goes  into  considerable  detail  on  the 
subject.  Also,  a  perusal  of  back  issues  of  The 
Numismatist,  official  journal  of  the  American 
Numismatic  Association,  will  probably  bring  some 
interesting  information  to  light.  In  the  back  of  M.L. 
Beistle's  book  on  half  dollar  die  varieties,  first 
published  in  1929  and  later  reprinted,  there  ap¬ 
pears  some  information  on  the  1861  Confederate 
States  of  America  half  dollar. 

Concerning  the  market  price  of  the  pieces,  the 
figures  you  list  seem  reasonable  to  me. 

*  *  * 

QUESTION:  I  would  like  to  extend  my  con¬ 
gratulations  on  you  for  your  superb  book,  "Virgil 
Brand:  The  Man  and  His  Era."  It  is  an  absolute¬ 
ly  remarkable  effort  and  you  should  be  very 
proud  of  it.  Until  I  purchased  this  book  from 
your  office  I  had  come  to  the  conclusion  that 
your  work,  "The  History  of  United  States 
Coinage — As  Illustrated  by  the  Garrett  Collec¬ 
tion"  was  unsurpassable,  but  your  Virgil  Brand 
book  is,  in  a  word,  marvelous.  I  have  most  of 


your  books  and  highly  recommend  their  pur¬ 
chase  and  reading  to  anyone  who  will  listen  to 

me. 

I  have  run  into  a  question  which  is  a  great 
mystery  to  me,  I  thought  perhaps  you  might  wish 
to  answer  in  your  Question  and  Answer  Forum 
in  a  future  "Rare  Coin  Review."  I  own  two  rare 
patterns,  Judd-1420  and  Judd-1427,  Liberty 
Seated  by  the  seashore  dollar  and  trade  dollar. 
Under  the  scroll  of  the  lower  obverse  of  both 
coins  there  is  inscribed  IN  GOD  WE  TRUST.  At 
the  ANA  mid-winter  convention  in  Colorado 
Springs,  in  February  1984,  I  saw  a  commercial 
dollar  pattern,  Judd-1424,  owned  by  a  Penn¬ 
sylvania  dealer,  and  inscribed  on  the  obverse 
scroll  of  this  coin  was  GOD  OUR  TRUST.  The 
Judd  book  on  patterns  clearly  shows  in  photos 
on  page  159  that  the  inscription  reads  IN  GOD 
WE  TRUST.  Based  on  what  I  have  seen  I  am  in¬ 
clined  to  believe  that  the  Judd  book  photo  of  the 
commercial  dollar  is  not  of  the  actual  coin  and 
therefore  incorrect.  Surely  the  pattern  was  not 
issued  carrying  both  inscriptions.  Or  was  it? 
What  is  your  opinion  on  the  subject?— D. A. H. 

ANSWER:  First  of  all,  thank  you  for  your  nice 
comments  concerning  my  Virgil  Brand  book. 
Whenever  I  write  something  it  is  nice  to  know  that 
readers  "out  there"  enjoy  the  effort.  This  keeps 
me  going!  In  the  works  in  the  department  of  book 
writing  is  a  volume  on  three-cent  and  five-cent 
pieces.  This  latter  production  is  nearly  finished  and 
simply  awaits  some  final  details  and  printing. 

Now  I'll  do  the  pattern  trade  dollar  question: 
As  you  say,  the  Judd  illustration  for  J- 1 423  (struck 
in  silver)  does  show  IN  GOD  WE  TRUST.  J-1 424, 
not  illustrated,  is  described  as  being  a  copper  im¬ 
pression  from  the  same  dies.  Examination  of  the 
photograph  accompanying  Lot  1073  of  our  Gar¬ 
rett  Collection  sale,  March  1980,  an  example  of 
J-1 423  in  Choice  Proof  grade,  shows  that  that 
piece  indeed  has  the  motto  IN  GOD  WE  TRUST, 
not  GOD  OUR  TRUST.  So,  to  partially  answer 
your  question,  apparently  the  plate  coin  in  Dr. 
J.  Hewitt  Judd's  United  States  Patterns,  Experimen¬ 
tal  and  Trial  Pieces  is  correct— he  is  not  in  error. 

I  cannot  readily  locate  a  photographic  citation 
in  our  recent  catalogues  for  an  example  of  J-1 424, 
so  I  will  throw  this  question  out  to  our  readers. 
Perhaps  someone  having  a  specimen  of  J-1 424 
might  care  to  reply.  If  a  copper  of  J-1 424  exists 
with  the  motto  GOD  OUR  TRUST  then  J- 1 424 
would  require  a  re-definition  in  a  future  edition 
of  the  book.  Further  questions  would  present 
themselves:  Do  examples  of  J-1 424  exist  with  IN 
GOD  WE  TRUST  as  the  motto?  One  of  your 
original  questions.  Do  examples  of  J- 1 423  exist 
with  GOD  OUR  TRUST?  What  is  the  motto  on 
J- 1 425?  Of  course,  if  J-1 423  exists  with  GOD  OUR 
TRUST  then  it  would  not  be  J-1 423  but  should  be 
assigned  a  new  number.  Similarly,  as  you  have 
seen  a  J-1424  with  GOD  OUR  TRUST  then  if 
another  J-1424  exists  with  IN  GOD  WE  TRUST, 
then  the  two  will  have  to  be  differentiated  by  new 
numbers.  The  situation  borders  on  being  very 
complicated! 

So,  if  any  of  our  readers  possess  an  example  of 
J-1424  I  would  be  pleased  to  hearfrom  them.  The 
same  goes  with  anyone  possessing  an  example  of 
J-1 425  with  any  motto  or  an  example  of  J-1 423 
with  the  motto  GOD  OUR  TRUST. 

*  *  * 

QUESTION:  I  have  been  an  avid  follower  of  your 
numismatic  writings  for  some  time.  I  very  much 
enjoyed  your  latest  book  on  copper  coins.  A 
small  question  did  come  up  in  that  book  which 
I  thought  I  would  ask  you.  On  page  135  you  say 
that  one  point  during  the  Civil  War  Confederate 
money  was  worth  more  than  Union  money.  In 
the  April  issue  of  the  "The  Numismatist"  I  wrote 
a  short  article  discussing  the  relative  value  of  the 

-22- 


two  currencies,  and  my  research  indicates  that 
Union  currency  was  always  worth  more  than 
Confederate  currency.  However,  I  based  my 
discussion  on  monthly  averages  derived  in  New 
York  and  Richmond  respectively.  Might  it  have 
been  that  on  a  particular  day  the  inversion  you 
spoke  of  happened?  What  was  the  source  of  your 
information?  I  wish  to  discuss  these  things  just 
for  the  fun  of  it  and  learn.  My  intention  is  cer¬ 
tainly  not  to  criticize.  I  have  always  felt  that  you 
have  helped  make  numismatics  fun  for  many 
people. — Steve  Feller 

ANSWER:  I  had  a  discussion  a  number  of  years 
ago  with  a  gentleman  who  was  involved  in  stud¬ 
ying  banking  in  Europe,  and  he  told  me  that  in 
England  "the  bets  were  on  the  Confederacy"  and 
so  far  as  foreign  exchange  went,  Confederate 
money  was  worth  more  than  Union  money  at  one 
point.  Indeed,  quantities  of  Confederate  paper 
money  were  received  by  various  English  banks. 
However,  I  believe  that  most  trade  was  in  "hard" 
money  rather  than  paper.  So  far  as  the  United 
States  goes,  I'm  not  aware  that  Confederate  cur¬ 
rency  had  any  value  in  Union  territory,  and  I  do 
not  know  whether  the  converse  was  true  or  not. 
I  will  read  your  article  in  The  Numismatist  at  my 
earliest  opportunity. 

I  am  sorry  that  I  cannot  be  more  specific  as  to 
the  time,  but  you  may  want  to  check  into  the 
British  economic  situation  circa  1862-1864,  in  the 
middle  of  the  Civil  War  in  the  United  States— and, 
if  you  find  that  the  source  of  my  information  is 
incorrect  I  will  avoid  using  such  in  the  future. 
Thank  you  for  your  nice  comments  in  the  last 
paragraph  of  your  letter. 

Another  interesting  note  concerning  the  Civil 
War  came  up  a  few  months  ago  when  I  was 
cataloguing  the  James  F.  Ruddy  Collection  of  en¬ 
cased  postage  stamps  for  inclusion  in  our  Dodson- 
Collier  Collections  Sale.  Fred  Reed  and  his 
associates  informed  me  that  during  the  1860s, 
while  coins  were  being  hoarded  in  the  United 
States,  American  coins  were  very  plentiful  north 
of  the  border  in  Canada.  In  fact,  there  were  so 
many  of  them  there  that  they  became  a  problem. 
No  one  wanted  to  redeem  them  in  Union  (or  Con¬ 
federate)  paper  money,  and  they  were  not  par¬ 
ticularly  desired  for  everyday  Canadian 
commerce. 

*  *  * 

FOLLOW-UP:  We  quote  here  from  a  nice  let¬ 
ter  from  C.D.H.,  a  Utah  reader: 

Your  "Rare  Coin  Review"  for  October- 
December,  1984  was  received  and  read  with 
pleasure.  The  pictures  of  the  many  rare  and 
choice  coins  were  especially  pleasing.  I  suggest 
though  that  intermittently  through  the  year  you 
use  your  expertise  to  address  a  very  different 
kind  of  coin  collector — those  kids  who  deliver 
newspapers  to  obtain  money  to  add  to  their  col¬ 
lections  or  who  otherwise  work  hard  to  earn  a 
few  dollars.  I  began  that  way  and  now,  as  I  near 
80  years  of  age,  I  still  have  the  kid-like  approach. 

Some  collect  gold  coins  to  serve  as  reminders 
of  historical  events  of  general  interest.  .  .  a 
youngster  can  learn  the  presidents  of  the  United 
States  and  major  events  of  each  administration 
by  collecting  worn  one-cent  pieces.  And  he  may 
collect  base-metal  foreign  coins  that  relate  to  ma¬ 
jor  world  events.  Such  collections  need  not  in¬ 
clude  costly  rarities.  I  began  buying  coins  with 
proceeds  from  my  newspaper  route  while  age 
12,  and  I'm  still  enjoying  it  and  still  learning.  The 
collection  is  very  satisfying.  American  and  world 
history  are  illustrated  by  inexpensive,  well-used 
coins.  My  1799  large  cent  probably  wouldn't  rate 
better  than  Poor — 'minus  ten'  on  the  ANA 
Grading  Scale! 

I  keep  hoping  someone  who  knows  history 


and  coins  will  address  my  interest  in  coins  tied 
to  history.  How  about  sharing  some  of  your  ex¬ 
pertise  in  this  regard?  Please  understand  that  I 
am  not  adverse  to  fine  specimens  of  rarities. 
Having  been  a  professor  of  geology  at  Johns 
Hopkins  University  for  more  than  a  few  years 
(and  more  than  a  few  years  ago)  I  am  acquainted 
with  the  Garrett  Collection.  We  of  the  "common 
people”  can  enjoy  and  learn  from  coin  collec¬ 
ting  also,  but  one  would  hardly  realize  it  from 
reading  the  emphasis  in  most  numismatic 
publications.  Obviously,  you  have  the  know-how 
to  include  a  series  among  your  publications  built 
around  history,  here  and  abroad.  I  am  hoping 
for  the  sake  of  our  great-grandchildren  that  such 
educational  opportunities  do  not  become 
uneconomic. 

ANSWER:  I  have  always  advocated  that  one  of 
the  most  interesting  aspects  of  numismatics  con¬ 
cerns  art,  history,  and  romance.  Monetary  aspects 
so  far  as  values  are  concerned  are  important,  but 
are  not  everything.  Some  of  the  most  interesting 
pieces  I  have  ever  encountered  are  those  of  low 
value.  In  my  Adventures  with  Rare  Coins  book  I 
spent  some  time  discussing  how  fascinating  a  well- 
worn  Liberty  nickel,  a  coin  worth  less  than  a  dollar 
can  be. 

While  no  publication  specifically  oriented 
toward  low-value  coins  and  their  relation  with 
history  is  in  the  works  here  at  Bowers  and  Merena 
Galleries,  I  can  say  that  most  of  the  books  I  have 
written  have  stressed  history  as  a  theme.  So  far 
as  offering  things  that  appeal  to  newspaper  car¬ 
riers  goes,  I  strongly  suggest  that  students  with 
limited  budgets  "invest"  in  books.  We  have  many 
fine  books  for  sale  from  about  $5  upward,  and 
for  less  than  $1 00  one  can  build  a  very  nice  begin¬ 
ning  library.  It  probably  will  never  be  feasible  to 
offer  well-worn  coins  which  retail  for  just  a  dollar 
or  two  in  our  Rare  Coin  Review,  but,  then,  we 
do  not  claim  to  be  all  things  to  all  people.  A  local 
coin  shop  is  the  best  place  to  browse  around  for 
such  pieces.  However,  a  typical  Rare  Coin  Review 
does  offer  many  coins  which  are  relatively 
inexpensive— that  is  pieces  in  the  $10  to  $100 
range. 

*  *  * 

QUESTION:  Your  "Rare  Coin  Review”  arriv¬ 
ed  today  and,  as  always,  it  is  informative  and 
a  pleasure  to  read.  I  do  have  one  question, 
however.  The  "Coin  Quiz”  asks  us  to  name  the 
three  rarist  large  cent  dates.  I  immediately  came 
up  with  1793,  1799,  and  an  1804,  the  same 
answer  you  gave.  Upon  further  reflection, 
however,  I  realize  that,  according  to  the  latest 
Condition  Census  figures  as  published  by  Denis 
Loring  and  generally  accepted  by  large  cent  en¬ 
thusiasts,  the  single  variety  of  1809  cents  is 
Rarity-2  and  the  two  varieties  of  1811  are  R-2  and 
R-3.  Meaning  all,  considering  all  varieties  of 
1793,  there  is  one  R-2  as  well  as  four  R-3's  and 
seven  R-4's.  If  these  counts  are  accurate,  1793 
is  not  among  the  three  scarcest  dates. 

Of  course,  1793  cent  may  be  more  desirable 
and  more  valuable  than  an  1809  or  an  1811 
simply  because  it  is  a  first-year  issue  and  because 
the  various  types  of  1793  cents  are  in  more  de¬ 
mand.  But  perhaps  1793s  aren't  actually  scarcer. 
Total  mintage  for  the  1793s  (as  reported  in  the 
Guide  Book)  is  about  half  those  of  either  1809 
or  1811,  but  the  1793s  may  have  a  higher  sur 
vival  rate,  or  may  have  been  originally  saved  as 
a  first  year  of  issue.  Or  perhaps  the  rarity  ratings 
are  wrong.  What  do  you  think? — C.D. 

ANSWER:  In  my  opinion,  1793  cents,  con¬ 
sidered  as  a  date,  are  indeed  more  elusive  than 
cents  of  either  1809  or  181 1 .  My  guess  is  that  the 
1793  cent  rarity  ratings  are  probably  as  accurate 
as  current  information  can  make  them,  but  that 
the  cents  of  1809  and  1811  are  listed  as  being 


scarcer  than  they  actually  are.  Perhaps  both  of 
these  should  be  listed  as  R-1,  thus  neatly  solving 
the  problem. 

I  believe  that  most  people  will  agree  that  as  a 
date  1809  is  rarer  than  the  combined  varieties  of 
1811  or  rarer  than  the  1811  variety  listed  as  R-2. 

By  the  way  of  explanation  for  Rare  Coin  Review 
readers  who  may  not  be  familiar  with  the  Sheldon 
Scale  for  rarity  it  is  given  herewith: 

Rarity-1  (R-1)  over  1,250  coins  known;  R-2, 
501-1,250  known;  R-3,  201-500  known;  R-4, 
76-200  known;  R-5,  31-75  known;  R-6,  13-30 
known;  low  R-7,  10-12  known;  R-7,  7  to  9  known; 
high  R-7,  4-6  known;  R-8,  2  or  3  known;  unique, 
only  one  known. 

Stated  a  different  way,  as  a  date  both  1809  and 
1811  are  R-1  (in  my  opinion),  but  1809  is  scarcer 
than  1811.  Just  to  pick  a  hypothetical  figure, 
perhaps  1,500  1809  cents  are  known  and  4,000 
1811  cents  exist.  Thus,  both  are  R-1,  but  one  is 
rarer  than  the  other. 

Surveys  of  large  cents  (and  other  coins)  tend  to 
err  on  the  side  of  rarity.  That  is,  it  is  often  the  case 
that  pieces  are  listed  as  being  more  scarce  than 
they  actually  are.  This  is  for  several  reasons.  First, 
coins  that  are  not  hard  to  find,  especially  in  lower 
conditions,  do  not  readily  appear  in  auction  sales. 
Going  to  the  ridiculous,  I  could  state  that  if  one 
surveyed  auction  sales  for  an  Extremely  Fine  Lin¬ 
coln  cent  of  the  year  1945  one  might  conclude 
that  is  a  great  rarity  simply  because  such  are  usual¬ 
ly  not  listed.  However,  the  opposite  is  true:  the 
pieces  are  extremely  common  and  are  worth  very 
little  over  face  value.  So  it  is  with  large  cents. 
While  higher  grade  examples  of  1809  and  181 1 
may  indeed  appear  in  auction  sales  that  are 
surveyed  by  large  cent  specialists,  there  are  many 
hundreds  of  well-worn  pieces  in  grades  from  Poor 
through  Fine  which  are  traded  each  year  in  coin 
shops,  at  coin  shows,  and  other  places  besides 
auctions.  So,  it  is  my  opinion  that  the  rarity  ratings 
for  1809  and  1811  are  higher  than  they  should  be. 

On  the  other  hand,  any  1793  cent,  even  one 
worn  to  nearly  the  point  of  oblivion,  is  a 
significantly  desirable  piece  and  is  apt  to  be  worth 
over  $100.  Thus,  1793  cents  in  all  grades  are  much 
more  visible  in  the  marketplace  and  are  more  apt 
to  be  seen  by  large  cent  specialists.  So,  in  my  opin¬ 
ion  the  1793  rarity  ratings  are  more  reflective  of 
the  actual  number  surviving. 

*  *  * 

FOLLOW-UP:  Bill  Fivaz,  the  well-known 
Georgia  collector,  wrote  to  say: 

"In  your  Rare  Coin  Review  No.  54,  Coin  Quiz 
on  page  39,  Question  3,  how  about  the  1901/0-S 
$5  overdate  in  addition  to  the  1909/8  $20  that 
you  mentioned?” 

ANSWER:  Thanks,  Bill.  Being  somewhat  of  a 
traditionalist  who  is  slow  to  catch  up  with  modern 
findings,  I  quite  overlooked  the  1 901  -S  half  eagle 
with  the  1  in  the  date  over  an  earlier  zero, 
although  upon  reflection  I  know  I  have  catalogued 
some  of  these  for  auction.  Thank  you  for  point¬ 
ing  out  that  question  No.  3  can  have  more  than 
one  answer! 

★  *  * 

QUESTION:  I  have  a  couple  of  questions 
which  I  hope  you  will  find  time  to  answer: 

Official  records  show  that  the  1909-0  half 
eagle  was  minted  to  the  extent  of  34,200  ex¬ 
amples.  I  do  not  consider  this  to  be  a  low  mint¬ 
age.  Why  does  this  coin  command  such  a  price 
when  a  specimen  comes  to  light?  In  the  same 
manner,  the  1885-CC  double  eagle  was  struck 
to  the  extent  of  9,450  examples,  but  the  1871-CC 
double  eagle  of  which  17,387  were  made  is  con¬ 
sidered  to  be  much  more  desirable.  I  am  begin¬ 
ning  to  leam  that  the  desirability  does  not  rest 

-23- 


solely  on  its  condition  and  numbers.  Please 
elaborate  on  this  phenomenon  in  general  and 
these  two  coins  in  particular. 

I  have  been  told  that  the  New  Orleans  Mint 
incorporated  dies  and  other  coining  equipment 
which  had  already  seen  extensive  use  in 
Philadelphia.  Could  this  explain  some  of  the 
mediocre  strikes  which  have  come  to  be 
characteristic  of  this  mint?— C.M.R. 

ANSWER:  The  1909-0  half  eagle  is  expensive 
and  desirable  because  on  a  relative  basis  it  is  a 
rarity.  It  is  my  opinion  that  of  the  34,200  pieces 
minted,  virtually  all  were  put  into  the  channels 
of  commerce  at  the  time  of  production.  I  am  not 
aware  of  any  groups  or  clusters  of  these  which 
were  saved  by  the  Treasury  Department  or  which 
later  surfaced  in  overseas  locations.  Examples  of 
1909-0  saw  hard  service,  with  the  result  that  most 
pieces  today  are  in  worn  grades.  Choice  Uncir¬ 
culated  coins  are  great  rarities. 

On  an  absolute  basis,  1909-0  is  a  much  more 
plentiful  coin  than  are  any  number  of  half  eagles 
of  low  mintages  from  the  previous  century.  But, 
as  more  people  collect  Indian  head  half  eagles, 
the  price  is  higher  due  to  the  increased  demand. 
The  same  is  true  of  the  1929  half  eagle.  On  ab¬ 
solute  terms  it  is  not  a  great  rarity,  but  on  relative 
terms  it  is  a  key  issue.  In  the  instance  of  the  1 929 
half  eagle,  the  mintage  of  662,000  is  not  relevant, 
for  nearly  all  of  these  pieces  were  melted  in 
1933-1934. 

Analogous  is  the  191 1-D  Indian  quarter  eagle. 
It  is  the  key  to  the  1908-1929  quarter  eagle  set. 
On  an  absolute  basis  the  191 1-D  is  not  a  great  rari¬ 
ty,  but  considering  quarter  eagles  of  its  design,  it 
is  on  a  relative  basis  the  scarcest  of  its  design  type. 

Concerning  the  1871-CC  double  eagle  in  com¬ 
parison  to  the  1885-CC,  I  have  no  ready  explana¬ 
tion  except  to  suggest  that  as  the  1885-CC  dou¬ 
ble  eagle  is  more  plentiful  and  is  more  often  seen 
in  the  marketplace,  this  accounts  for  the  lower 
price.  Why  this  is  the  case,  when  the  1885-CC 
double  eagle  has  approximately  twice  the  mint¬ 
age  of  the  1871-CC  is  not  known.  It  could  have 
been  that  1871-CC  double  eagles  were  exported, 
and  an  inordinant  number  of  them  were  con¬ 
verted  into  bullion.  I  do  not  consider  it  logical  that 
1871-CC  double  eagles  were  kept  by  the  Treasury 
Department  and  then  melted  down  in  1933-1934. 
There  is  no  evidence  that  the  Treasury  stored  Un¬ 
circulated  Carson  City  gold  coins  of  any  issue  in 
quantity.  The  double  eagles  were  workhorse  coins 
at  the  time  of  production  and  were  primarily  us¬ 
ed  in  international  transactions  in  which  people 
engaging  in  commerce  with  the  United  States  had 
no  interest  in  American  paper  money.  I  am  not 
aware  that  the  New  Orleans  Mint,  which  open¬ 
ed  in  1838,  used  coining  equipment  which  had 
already  seen  extensive  use  in  Philadelphia.  In 
Philadelphia  new  steam-driven  coining  presses 
were  installed  in  1836,  prior  to  which  time  horses 
and  manpower  furnished  the  motive  energy.  So 
far  as  I  know,  the  equipment  installed  in  New 
Orleans  in  1838  was  steam-driven,  not  operated 
by  men  or  horses.  If  this  was  the  case,  then  it 
would  not  seem  logical  that  equipment  installed 
in  1836  in  Philadelphia  would  be  taken  a  year  or 
so  later  and  shipped  to  New  Orleans.  If  any  Rare 
Coin  Review  readers  have  comments  on  this,  I 
would  be  pleased  to  learn  of  them. 

The  weak  striking  observed  on  New  Orleans 
Mint  coins,  especially  on  Morgan  silver  dollars  of 
the  1880s  and  1890s,  but  on  certain  other  coins 
as  well,  is  attributable  to  die  spacing,  in  my  opin¬ 
ion.  The  precise  spacing  of  dies  is  an  art.  In  all 
instances,  the  pressure  applied  to  the  dies  is  the 
same,  for  it  is  taken  from  a  rotating  flywheel.  A 
"lightly  struck"  coin  is  struck  with  the  same 
pressure  as  a  sharply-detailed  piece.  If  the  dies  are 
spaced  just  right,  then  the  metal  from  the  blank 


planchet  will  flow  into  the  deepest  recesses  and 
all  features  will  be  struck  up  properly.  If  the  dies 
are  spaced  too  closely  together,  the  metal,  seek¬ 
ing  to  escape  will  form  a  wire  edge  around  the 
piece  or  will  cause  die  or  collar  breakage— in  any 
esent  extreme  wear  will  be  caused  to  the  dies  and 
collar.  If  the  dies  are  spaced  too  far  apart,  then 
the  details  that  are  the  deepest  in  the  dies— the 
breast  feathers  on  the  eagle  and  the  ear  and  hair 
of  Miss  Liberty  on  the  Morgan  dollar,  for 
example— will  be  lightly  detailed  and  will  appear 
indistinct  or  weak.  At  the  same  time,  such  wide 
die  spacing  will  preserve  the  dies  for  a  longer 
period  of  time  and  will  cause  fewer  coining  prob¬ 
lems.  At  the  Denver  Mint  in  the  1920s,  dies  were 
generally  spaced  too  far  apart,  with  the  result  that 
many  indistinct  strikes  emerged  from  the  presses. 
1926-D  nickels  and  1926-D  quarters  in  particular 
are  nearly  always  seen  flatly  struck;  sharp  ex¬ 
amples  of  either  of  these  issues  are  major  rarities. 

*  *  * 

QUESTION:  At  present  I  am  reading  "Thirty 
Years  in  the  United  States  Senate,"  by  Senator 
Thomas  H.  Benton,  Vol.  I.  On  page  448, 
photocopy  enclosed,  the  good  Senator  used  the 
term  "five-cent  piece."  Do  you  have  any  idea 
as  to  why  he  would  have  used  that  term  as  ear¬ 
ly  as  1834?  The  "nickel"  did  not  appear  until 
1866.  Further,  he  refers  to  a  twenty-cent  piece, 
which  also  seems  strange.— D.H.S. 

ANSWER:  The  term  "five-cent  piece"  used  in 
1834,  undoubtedly  refers  to  the  half  dime  which 
bore  the  inscription  5C  on  the  reverse.  More 
mysterious  is  the  "twenty-cent  piece"  notation, 
which  is  probably  a  typographical  error,  for  the 
listing  reads:  "[In  circulation  we  see]  very  few  half 
dollars,  except  in  the  neighborhood  of  the  mint, 
and  in  the  hands  of  the  Bank  of  the  United  States 
and  its  branches;  the  twenty,  ten,  and  five-cent 
pieces  scarcely  seen,  except  as  a  curiosity,  in  the 
interior  parts  of  the  country.  So  much  for  the 
domestic  coinage." 

As  the  25-cent  piece  or  quarter  dollar  is  not 
mentioned,  I  assume  that  the  "twenty-cent  piece" 
notation  is  a  typographical  error. 

*  *  * 

QUESTION:  In  your  June-September  Rare 
Coin  Review  on  page  33  you  discuss  the  "Invest¬ 
ment  Report  Card"  by  Solomon  Brothers,  based 
on  $10,000  invested  in  various  categories.  Would 
the  figures  be  the  same  if  such  amounts  as  $1 ,000 
or  $2,000  were  invested? — D.M. 

ANSWER:  We  did  not  compile  the  figures,  so 
we  don't  know.  However,  I  presume  that  the 
$10,000  figure  was  used  for  statistical  purposes 
only,  and  that  the  various  investments  in  coins  and 
other  media  did  not  specifically  represent  $10,000 
articles  but,  rather,  represented  a  "10,000  share" 
in  an  aggregate  number  of  pieces  of  different 
values.  If  this  was  the  case,  (and  I  suspect  it  is) 
then  $1,000  would  have  done  just  as  well 
proportionately. 

*  *  * 

FOLLOW-UP:  We  reprint  the  following  note 
from  Reinhold  Jordan  of  Schweinfurt,  Germany: 

"Thank  you  very  much  for  your  "Rare  Coin 
Review."  It's  certainly  one  of  the  most  in¬ 
teresting  price  lists  printed  in  the  United  States 
of  America.  Being  a  numismatic  journalist,  I  have 
written  an  essay  analyzing  your  latest  list  for  a 
German-language  coin  magazine.  The  article  will 
occupy  two  pages. 

I  would  be  glad  if  you  could  send  me  some 
copies  earlier  than  No.  30  for  my  numismatic 
library.  I  would  like  to  collect  them.  Also,  if  you 
have  a  special  Bowers  and  Merena  Galleries 
bookplate  I  would  like  to  acquire  examples  of 
this  as  well." 


ANSWER:  We  do  not  have  back  issues  of  the 
Rare  Coin  Review  available  for  sale,  but  I  do  see 
advertisements  soliciting  these  from  time  to  time 
in  Coin  World,  Numismatic  News,  and  elsewhere. 
You  might  try  placing  a  classified  ad  in  one  of  the 
American  periodicals. 

We  have  never  issued  a  Bowers  and  Merena 
Galleries  bookplate.  This  procedure  is  not  par¬ 
ticularly  popular  in  American  numismatic  circles, 
but  the  idea  is  interesting. 

*  *  * 

QUESTION:  I  have  enjoyed  being  one  of  your 
patrons  for  over  twenty  years.  My  first  purchase 
from  you  was  in  1962,  an  1857  flying  eagle  cent 
that  is  still  part  of  my  collection.  I  periodically 
look  back  at  old  issues  of  your  "Empire  Review" 
for  the  years  1962-1964  and  wish  I  had  more 
money  as  a  high  school  student  to  purchase 
coins,  all  of  which  by  today's  standards  are 
bargains.  I  believe  I  own  and  have  read  at  least 
once  all  of  your  books  about  coins.  Although  I 
have  enjoyed  each  one,  I  think  that  "Adventures 
with  Rare  Coins"  was  my  favorite.  As  a 
subscriber  to  your  "Rare  Coin  Review"  and  your 
auction  catalogues,  I  eagerly  await  the  arrival  of 
each  new  issue,  knowing  that  hours  of  enjoyable 
reading  await  me. 

The  reason  for  my  letter  is  to  ask  two  ques¬ 
tions.  The  first  I  hope  might  be  included  in  a 
future  copy  of  your  Review.  The  second,  I  would 
appreciate  a  written  response  to  if  you  or  a 
member  of  your  staff  can  find  the  time. 

My  first  question  concerns  the  relatively  recent 
discovery  of  the  1870-S  half  dime.  Like  you,  I  am 
fascinated  by  the  mystery  surrounding  this  and 
similar  coins  (for  example  the  1873-S  Liberty 
Seated  silver  dollar  and  the  1873-S  half  dollar 
without  arrows).  What  information  has  come  to 
light  regarding  the  discovery  of  the  famous 
1870-S  half  dime?  I  have  read  that  this  coin  was 
first  displayed  by  Rarcoa  of  Chicago.  How  did 
the  coin  come  into  their  possession  and  where 
was  it  for  the  previous  100  years?  I  am  sure  that 
other  readers  would  be  interested  if  such  infor¬ 
mation  is  available. 

My  second  question,  of  a  more  personal 
nature,  involves  a  coin  I  purchased  from  your 
firm  in  December  1983.  At  that  time  I  acquired 
from  you  an  1842  large  cent  in  EF-45  grade  for 
$645.  I  am  extremely  pleased  with  the  coin  and 
have  gone  back  to  reread  part  of  "Penny  Whim¬ 
sy"  as  a  result  of  the  purchase.  I  have  deter¬ 
mined  that  the  coin  is  an  S-289,  which  according 
to  the  text  has  a  Condition  Census  of 
60-60-55-50-50-45.  I  would  like  to  know  if  my 
coin  is  part  of  this  census.  Since  the  writing  of 
"Penny  Whimsy"  has  the  Condition  Census  for 
this  coin  changed,  and  if  so  what  is  the  new  cen¬ 
sus  and  where  would  such  information  be 
available?  If  the  census  has  not  changed,  would 
my  coin  be  one  of  the  six  listed  or  merely  one 
of  several  EF-45  pieces?  I  would  appreciate  any 
information  you  could  provide. 

Once  again  I  would  like  to  thank  you  for  mak¬ 
ing  coin  collecting  a  more  interesting  hobby  for 
me.— P.H.O. 

ANSWER:  First  of  all,  thank  you  for  your  nice 
comments  concerning  my  book.  Second,  con¬ 
cerning  the  1870-S  half  dime,  I  have  not  been  able 
to  learn  any  information  concerning  its  ownership 
or  location  prior  to  the  display  of  it  by  Rarcoa  a 
few  years  ago.  In  a  transaction  that  was  fairly  well 
publicized,  the  coin  changed  hands  for  $425,000 
and  was  purchased  by  John  Abbott,  the  Michigan 
dealer,  who  still  owns  it.  The  Treasury  Department 
records  do  not  reveal  a  coinage  of  1870-S  half 
dimes,  but  this  is  not  particularly  significant,  for 
there  is  no  record  of  1870-S  silver  dollars  either, 
and  yet  a  number  of  1870-S  silver  dollars  exist. 

-24- 


Whether  one  1870-S  half  dime  was  struck  to  test 
the  dies,  or  whether  additional  pieces  will  come 
to  light,  is  not  known.  If  any  readers  have  any  fur¬ 
ther  information  on  the  1870-S  half  dime  I  will 
reprint  it  in  a  future  column. 

Concerning  the  1812  large  cent,  I  do  not  believe 
that  this  is  specifically  the  1812  used  as  part  of 
the  Condition  Census.  The  Condition  Census 
represents  what  people  associated  with  the  Pen¬ 
ny  Whimsy  book  have  seen  or  reported.  In  my 
opinion,  there  are  many  other  coins  that  have  not 
been  reported,  particularly  in  grades  less  than  Un¬ 
circulated.  While  your  coin  may  indeed  be  the 
1812  and  may  be  the  only  one  specifically  known 
in  this  grade,  I  consider  it  more  likely,  that  it  is 
as  you  suggest,  one  of  several  in  this  grade.  Still, 
as  a  Condition  Census  item  it  is  highly  desirable. 
Incidentally,  if  you  do  not  already  know  of  the 
Early  American  Coppers  Club  and  Penny-Wise, 
their  periodical  publication,  I  would  be  happy  to 
send  you  the  address.  There  are  many  articles  on 
early  large  cents,  including  revised  Condition  Cen¬ 
sus  estimates  from  time  to  time. 

*  *  * 

LIKES  OUR  MAGAZINE! 

We  received  a  nice  letter  from  M.E.,  a  reader 
who  lives  in  Wise,  Virginia,  who  had  the  follow¬ 
ing  to  say: 

"I  enjoyed  very  much  your  Rare  Coin  Review 
No.  53.  As  usual,  your  publication  provided  a 
wealth  of  information,  informative  as  well  as  enter¬ 
taining.  It  is  not  merely  a  listing  of  numismatic  of¬ 
ferings,  or  a  newsletter,  or  a  coin  magazine  or  a 
newspaper.  But  it  is  the  best  of  'all  of  the  above.' 
It  is  a  credit  to  the  hobby.  After  all,  coin  collec¬ 
ting  is  a  hobby— and  you  have  forgotten  the  hobby 
aspects.  And,  if  the  art,  history,  beauty,  and  other 
aspects  of  the  coin  are  not  realized  and  ap¬ 
preciated  by  the  true  collector,  then  a  coin  is  no 
more  than  a  metallic  disc  good  only  for  its  ex¬ 
change  or  intrinsic  value.  Obviously  you  have  the 
true  collector  in  mind  when  you  prepare  your 
publication.  Thanks  to  you  from  one  of  these  'true 
collectors." 

A  COURSE  ON  COINS? 

Tom  Becker  has  come  up  with  an  idea!  We  are 
considering  preparing  course  material  and  lessons 
for  numismatic  studies.  While  numerous  seminars 
on  coin  investment  have  been  given  by  various 
firms,  we  are  not  aware  of  any  company  that  has 
had  an  in-depth  commitment  to  seminars  and 
courses  on  general  numismatic  education.  Tom 
proposes  examining  in  depth  the  entire  series  of 
United  States  coinage  from  several  perspectives. 
It  is  not  that  coin  investment  will  be  overlooked, 
for  Tom  suggests  in  a  recent  memorandum  on  the 
subject  that  the  course  include  "a  no-nonsense 
review  of  coin  investment  and  tips  on  buying  and 
selling,"  noting  that  "you'll  benefit  from  our  many 
years  of  hands-on  experience  and  learn  how  to 
'buy  smart'  and  grade  coins  like  the  seasoned 
professional." 

It  is  envisioned  that  this  study  course  extend  to 
paper  money,  tokens,  world  coins,  ancient  issues, 
and  other  aspects  of  numismatics.  Planned  as  a 
series  of  books  or  booklets  to  be  sent  by  mail,  the 
entire  program  is  such  that  you  will  never  have 
to  leave  your  home  or  office  in  order  to  participate 
fully.  While  we  do  not  know  what  the  cost  will 
be,  every  effort  will  be  made  to  keep  it  reasonable. 
It  is  not  intended  to  be  a  profit-making  venture. 

If  you  would  like  to  learn  more  about  this, 
please  drop  Tom  Becker  a  note  saying  I  am  in¬ 
terested  in  the  study  course."  He  will  keep  your 
letter  on  hand,  and  should  the  response  be 
favorable,  we  will  go  ahead  with  it  and  then  will 
let  you  know,  without  any  obligation  on  your  part 
what  the  cost  and  procedures  will  be. 


1900- S  Select  BU,  MS-63/65  $425;  Choice  Brilliant 

Uncirculated,  MS-65  . 825.00 

1901- 0  Choice  BU,  MS-65  . 495.00 

1901- S  Choice  BU,  MS-65  . 2,795.00 

1902  Select  BU,  MS-63/65  $295;  Choice  BU, 

MS-65  . 995.00 

1902- 0  Select  BU,  MS-63/65  $135;  Choice 

Brilliant  Uncirculated,  MS-65  . 420.00 

1902- S  Select  BU,  MS-63  $375;  Select  BU, 

MS-63/65 . 595.00 

1903  Select  BU,  MS-63/65  $250;  Choice  BU, 

MS-65  . 585.00 

1903- 0  Select  BU,  MS-63/65  $425;  Choice  BU, 

MS-65  . 895.00 

1904  Select  BU,  MS-63/65  $395;  Choice  BU, 

MS-65 . 1,495.00 

1904- 0  Uncirculated,  MS-60  $49;  Choice  BU, 

MS-65  . 275.00 

1921  Uncirculated,  MS-60  $39;  Select  BU,  MS-63 
$49;  Choice  QU,  MS-65 . 349.00 

1921-D  Select  BU,  MS-63/65  $185;  Choice  BU, 
MS-65  . 795.00 


PEACE  DOLLARS 


1921  Peace.  MS-63  $395;  MS-65/63.  A  good  value 
at . 795.00 

1922- D  MS-63/65  $195;  Choice  Brilliant  Uncir¬ 
culated,  MS-65 . 695.00 

1923  MS-63/65  . 75.00 

1923- S  Select  BU,  MS-63/65  . 250.00 

1924  Select  BU,  MS-63/65  $150;  Choice  Brilliant 

Uncirculated,  MS-65  . 395.00 

1925  MS-63/65  $150;  Choice  Brilliant  Uncir¬ 
culated,  MS-65  . 335.00 

1925-S  MS-63/65  . 650.00 

1926  MS-63/65  $295;  Choice  Brilliant  Uncir- 

culted,  MS-65 . 765.00 


KSpti 


1926-D  Select  BU,  MS-63/65  . 395.00 

1926- S  MS-63/65  . 275.00 

1927  MS-63/65  . 495.00 

1927- S  Select  BU,  MS-63/65  . 495.00 


ilNColJ-W.ii 


1928  Rarest  Philadelphia  Mint  issue.  Choice 
AU-55  $169;  Select  Brilliant  Uncirculated, 


MS-63  $215;  MS-63/65  . 995.00 

1928-S  Select  BU,  MS-63  . 325.00 


JN-GoDUt. 


1934  Select  BU,  MS-63/65  $395;  Chioce  BU, 

MS-65 . 1,195.00 

1935  Uncirculated,  MS-60/63  $115;  MS-63/65 

$395;  MS-65  . 965.00 

Trade  Dollars 


1873  First  year  of  issue  for  this  denomination. 
EF-40.  Toned  . 195.00 


1874  Uncirculated,  MS-60/63.  Great  lustre.  An  at¬ 
tractive  specimen  . 1,250.00 

1875- S  Choice  EF-45  $185;  About 

Uncirculated-55.  Much  original  mint  lustre 
$395;  Uncirculated,  MS-60  . 595.00 

1876- S  EF-45 . 185.00 

1877- S  AU-50  $285;  AU-55  $395;  Uncirculated, 

MS-60/63  . 1,250.00 

1878- CC  Choice  EF-45.  Ver,  scarce  and  missing 

from  most  collections . 1,250.00 

1878-S  EF-40  $139;  EF-45  $175;  Choice  About 
Uncirculated-55  . 395.00 

Gold  Dollars 

1849  Open  wreath.  Choice  EF-45  . 295.00 

1849-0  VF-35 . 275.00 

1851  AU-50.  Great  lustre  $395;  Choice  AU-55. 
Light  rubbing  . 495.00 


1851  -C  VF-20.  Minor  rev.  damage  350.00 
1851-0  AU-50  . 425.00 


1853  EF-40  $265;  Choice  EF-45  $295;  Choice 


AU-55  . 495.00 

1853-0  Choice  EF-45 . 325.00 

1857  Choice  EF-45 . 295.00 


1886  Choice  Brilliant  Proof-65.  Mellow  deep 
yellow  color  with  frosty  devices  .  .6,500.00 


Quarter  Eagles 


1850  Choice  AU-55  . 495.00 

1851  Choice  AU-55  . 425.00 


$250,000  TO  BE  SPENT 
BY  BOWERS  AND  MERENA 
FOR  RESEARCH 

During  1985  Bowers  and  Merena  Galleries,  will 
spend  over  $250,000  on  numismatic  research  and 
to  create  coin  reference  books,  according  to  Ray¬ 
mond  N.  Merena,  president  of  the  firm. 

“Last  year,  1984,  we  proclaimed  as  'The  Year 
of  Education'  here  at  Bowers  and  Merena 
Galleries,"  he  noted.  “The  overwhelming 
response  to  the  several  new  book  titles  we 
published— including  'U.S.  Copper  Coins'  and  'An 
Inside  View  of  the  Coin  Hobby  in  the  1 930s' — 
has  been  so  gratifying  that  we  plan  an  accelerated 
schedule  of  new  titles  in  1985. 

“Q.  David  Bowers'  new  book  on  three-cent  and 
five-cent  pieces  will  appear  early  in  the  year, 
followed  by  specialized  books  on  dimes,  quarters, 
and  half  dollars.  Morgan  and  Peace  dollars  will 
form  subjects  for  a  further  book,  as  will  com¬ 
memorative  coins.  With  Anthony  Terranova,  who 
is  gathering  the  photographs,  Dave  Bowers  will 
produce  a  specialized  book  on  colonial,  state,  and 
other  early  American  coins,  complete  with  rarity 
ratings,  prices,  and  descriptions  of  significant 
issues. 

“Our  aim  is  to  make  a  significant  contribution 
to  the  coin  hobby  in  the  field  of  research  in  1985," 
Merena  continued.  "While  some  titles  may  be 
profitable,  it  has  been  our  experience  that  most 
are  not.  Still,  our  firm  perceives  a  need  for 
disseminating  information  which  we  believe  will 
be  useful  to  the  serious  numismatist."  he 
concluded. 

In  the  past  Q.  David  Bowers,  chairman  and 
"chief  author"  of  the  firm,  has  written  over  20 
books.  Many  of  these  have  captured  awards  in 
the  coin  hobby,  with  two  of  his  books,  “The 
History  of  U.S.  Coinage"  (1979;  since  reprinted 
three  times)  and  "Virgil  Brand:  The  Man  and  His 
Era,”  being  the  only  publications  ever  to  win  both 
top  literary  awards;  the  Robert  Friedberg  Award 
(given  by  the  Professional  Numismatists  Guild) 
and  the  Book  of  the  Year  Award  (given  by  the 
Numismatic  Literary  Guild).  The  honors  came  in 
1979  and,  recently,  this  past  August. 

(From  a  November  1984  news  release) 


-25- 


375.00 

395.00 

495.00 


1852-0  AU-50  . 375.00 

1853  AU-50.  Lightly  toned  . 350.00 

1857-0  Choice  EF-45.  A  small  mintage  of  just 

34,000  pieces . 450.00 

*  *  * 

USE  THE  TELEPHONE! 

Telephone  Tom  Becker  at  (603)  569-5095  and 
he  will  reserve  your  order  for  you! 

*  *  ♦ 


1857-S  Choice  EF-45  . 395.00 

1867-S  Choice  AU-55  . 550.00 

1872-S  Choice  EF-45.  Yet  another  low  mintage 

coin . 395.00 


1878  AU-50  $350;  Choice  AU-55  $425;  Brilliant 


Uncirculated,  MS-60  . 725.00 

1879  AU-50  . 350.00 

1886  AU-50.  A  scant  mintage  of  but  4,088  pieces! 
A  problem  free,  lustrous  example  .  .495.00 

1889  AU-50  . 395.00 

1906  Choice  AU-55  . 425.00 

1908  EF-45  . 250.00 

1910  Choice  EF-45  $250;  BU,  MS-60..  .425.00 

1911  EF-45  . 250.00 

1911  -D  Choice  About  Uncirculated-55.  The  key 

date  in  the  series . 1,295.00 

1912  EF-40  $225;  Choice  EF-45  . 250.00 

1913  Choice  EF-45 . 250.00 

1915  Choice  EF-45 . 250.00 

1925-D  AU-50  . 295.00 


Three  Dollar  Gold 

1854  Choice  EF-45  $850;  Choice  About 
Uncirculated-55.  Great  lustre  and  just  a  little 
light  rubbing . 1,395.00 


The 

Bowers  and  Merena  Galleries 
COMPARISON  TEST 

The  Bowers  and  Merena  Galleries  Com¬ 
parison  Test  has  never  been  successfully 
challenged.  But,  we  invite  you  to  try!  After 
receiving  an  order  from  this  issue  of  the  Review 
we  invite  you  to  compare  the  coins  received, 
item  by  item,  with  those  available  from  any 
other  source.  You  have  to  make  an  in-person 
comparison  of  the  coins  we  deliver,  for  com¬ 
paring  them  to  pieces  advertised  by  others  (but 
not  delivered  to  you  or  seen  by  you)  without 
examining  the  quality  is  not  meaningful.  You 
have  30  full  days  to  do  this!  If  you  do  not  agree 
that  the  value  delivered  by  Bowers  and 
Merena  Galleries  is  the  very  best  you  can  buy, 
just  return  the  coins  and  we  will  give  you  an 
instant  refund'  Offhand  you  might  think  we 
are  taking  a  big  chance  by  making  such  a 
challenge  But,  if  history  repeats  itself,  not  a 
single  co in  will  be  returned  as  the  result  of  an 
unfavorable  comparison! 


1860-S  AU-50.  A  very  scarce  issue.  A  coin  with 
full  lustre  and  just  enough  wear  to  make  it 
affordable . 1,995.00 


1864  AU-55 


1,995.00 


Half  Eagles 


1834  Classic  Head  type.  VF-20 . 295.00 

1843  Choice  EF-45 . 295.00 

1847  Choice  EF-45 . 295.00 


1856  AU-50  . 395.00 

1859-C  EF-40  . 495.00 

1860  VF-30 . 525.00 

1880  Choice  EF-45 . 245.00 

1881  -S  Choice  EF-45  . 245.00 

1882  Choice  EF-45 . 245.00 

1884  AU-50  .  295.00 

1885  Choice  EF-45  $245;  AU-50  . 295.00 

1887-S  AU-50 . 295.00 

1890-CC  AU-50  . 425.00 


1891-CC  Choice  EF-45  $375;  AU-50  .  .  .425.00 


1897  Choice  AU-55 

1898  BU,  MS-60.  .  . 


1899  BU,  MS-60.  .  .  . 

1900  Choice  EF-45.  . 

1902  Choice  EF-45.  . 

1903  Choice  EF-45.  . 

1903-S  Choice  AU-55 
1 905 -S  AU-50 . 


325.00 

395.00 


395.00 

245.00 

245.00 

245.00 

325.00 

295.00 


1907  Choice  AU-55 . 325.00 

1907-D  EF-45  . 265.00 

1910  Choice  EF-45 . 295.00 


Eagles 

1841  Very  Fine-30 . 

1847-0  VF-35 . 

1874  Choice  EF-45 . 


1882  Brilliant  Uncirculated,  MS-60  .  .  .  .475.00 


1893  BU,  MS-60 


475.00 


A  RARITY  DISCOVERED! 

In  our  last  issue  we  printed  an  article  by  noted 
numismatic  book  dealer  Cal  Wilson  on  the  sub¬ 
ject  of  our  own  auction  catalogues,  noting  that 
while  various  catalogues  since  1972  show  up  with 
some  frequency  on  the  aftermarket  (although 
some  are  elusive),  there  was  one  catalogue  of 
which  we  did  not  possess  a  copy  and  were  not 
even  certain  of  the  date.  This  was  described  simply 
as  "a  sale  for  the  Empire  State  Numismatic 
Association,  early  1960s,  copies  of  which  the 
writer  cannot  now  locate." 

Denis  Loring,  the  large  cent  specialist,  gallant¬ 
ly  came  to  the  rescue  and  provided  a  Xeroxed 
copy  of  this  catalogue  rarity.  For  readers  interested 
in  such  things,  we  note  that  the  sale  was  con¬ 
ducted  by  Empire  Coin  Company  in  conjunction 
with  the  Empire  State  Numismatic  Association 
convention  held  at  the  Arlington  Hotel,  Bingham¬ 
ton,  New  York,  May  18-20,  1962.  The  catalogue 
measures  5V5  inches  wide  by  8V2  inches  high  and 
contained  27  printed  pages,  one  blank  page,  one 
inserted  bid  sheet,  and  covers.  Described  are  813 
different  auction  lots  of  United  States  and  foreign 
coins.  The  first  session  was  scheduled  to  take 
place  on  Friday  evening,  May  18,  1962  at  7  p.m., 
lots  1-410,  while  the  second  session  was  schedul¬ 
ed  for  Saturday  afternoon,  May  19,  at  2  p.m.,  lots 
411-813. 

Among  the  highlights  are  noted:  Lot  4,  1804 
spiked  chin  half  cent,  Gilbert  9.  "Gilbert  lists  this 
coin  as  'Excessively  Rare— but  two  specimens  now 
known,'  Very  Fine";  Lot  18,  1861  Indian  cent, 
"beautifully  toned  Uncirculated  Gem,  currently 
selling  around  $50";  Lot  62,  1909-S  Indian  cent, 
"Brilliant  Uncirculated  Gem,  worth  $150";  Lot  90: 
"1918/7-S  quarter.  Brilliant  Uncirculated,  Choice. 
No  recent  sale  records  reported  to  us  .  .  . 

This  lot  should  be  worth  a  strong  four-figure 
price";  Lot  104:  "1895  The  prize  date  in  the 
Morgan  dollar  series.  Brilliant  Proof.  Sales  reported 
close  to  the  $2,000  mark.  In  our  opinion  this  will 
be  a  $4,000  coin  in  a  few  years.  This  particularly 
choice  specimen  should  attract  wide  attention." 

The  sale  went  on  to  list  many  different  Proof 
silver  three-cent  pieces,  a  nice  collection  of  half 
dimes,  many  Canadian  issues,  a  consignment  of 
crowns  and  multiple  talers  of  the  world,  more 
United  States  coins,  then  concluding  with  a  fur¬ 
ther  consignment  of  world  coins.  It  is  possible  that 
no  prices  realized  list  was  ever  published  or  if  it 
was,  at  least  Denis  Loring's  copy  did  not  include 
one. 

Several  readers  have  written  about  past  issues 
of  the  Rare  Coin  Review  and  have  encouraged  us 
to  publish  a  check  list  of  these.  If  someone  "out 
there"  wants  to  take  this  on,  let  us  know  and  we 
will  publish  the  results  here!  We  can  say, 
however,  that  no  one  who  has  written  to  us  has 
a  truly  complete  set,  although  two  people  have 
sets  from  No.  3  onward. 


-26- 


1894  Choice  AU-55  . 395.00 

1898  BU,  MS-60 . 475.00 

1899  BU,  MS-60 . 475.00 

1900  Uncirculated,  MS-60  . 475.00 


1901-S  Select  BU,  MS-63/65  . 1,995.00 

1902  BU,  MS-60 . 475.00 


1901-S  Select  BU,  MS-63/65  . 1,995.00 

1902  BU,  MS-60 . 475.00 


1905  Select  BU,  MS-63  . 895.00 

1910-D  Choice  AU-55  . 625.00 

1914  Choice  AU-55  . 625.00 

1914-D  Choice  AU-55 . 650.00 

1915  Choice  AU-55  . 625.00 

1932  Brilliant  Uncirculated,  MS-60  $895;  Brilliant 
Uncirculated,' 'MS-60/63  . 995.00 


Commemorative  Coins 

1893  Isabella  quarter.  Select  Brilliant  Uncir¬ 
culated,  MS-63.  Just  a  few  light  bagmarks  away 
from  MS-65 . 795.00 

COMMEMORATIVE  HALF  DOLLARS 


1921  Alabama.  Select  BU,  MS-63/65  .  .  .750.00 

1936  Albany.  Choice  BU,  MS-65  . 595.00 

1936-D  Arkansas.  Choice  Brilliant  Uncirculated, 
MS-65  195.00 

1936-S  Arkansas.  Choice  BU,  MS-65  .  .  .  195.00 

1938  Arkansas.  Set  of  three  pieces.  Brilliant  Un¬ 
circulated,  MS-60.  Very  affordable  at  our  price 
of  just . 550.00 

1936-S  Bay  Bridge.  Select  BU,  MS-63  $195;  Select 
BU,  MS-63/65  . 225.00 

1937  Boone.  Choice  BU,  MS-65  . 269.00 


Choice  BU,  MS-65  . 445.00 


1925-S  California.  Select  BU,  MS-63  .  .  .215.00 

1936  Cincinnati.  Select  BU,  MS-63/65  $435; 
Choice  BU,  MS-65  . 595.00 

1936-D  Cincinnati.  Select  BU,  MS-63/65  $435; 
Choice  BU,  MS-65  . 595.00 

1936-S  Cincinnati.  Select  BU,  MS-63/65  $435; 
Choice  BU,  MS-65  . 595.00 

1936  Cleveland.  MS-63/65  . 165.00 

1936  Columbia,  S.C.  MS-63/65  $335;  Choice 
Brilliant  Uncirculated,  MS-65  . 450.00 

1936-S  Columbia,  S.C.  MS-63/65  $335;  Choice 
Brilliant  Uncirculated,  MS-65  . 450.00 

1936  Columbia,  S.C.  Set  of  three  pieces.  Choice 
BU,  MS-65  . 1,250.00 


Box  Special  #8 

“Coast  to  Coast  Commemoratives” 

The  West  coast  is  represented  by  the  1936-S  Bay 
Bridge  in  Select  BU,  MS-63/65  at  $225. 

From  the  East  coast  comes  the  1934  Maryland 
Select  BU,  MS-63/65  at  $350. 

Order  this  special  and  you  can  add  these  two 
coins  to  your  type  set  for  just  $495! 


1892  Columbian.  Select  BU,  MS-63/65  $105; 

Choice  BU,  MS-65  . 249.00 

1893  Columbian.  Select  BU,  MS-63/65  $105; 

Choice  BU,  MS-65  . 249.00 

1935  Connecticut.  Select  BU,  MS-63  $325;  Choice 

Brilliant  Uncirculated,  MS-65  . 625.00 

1936  Delaware.  Select  BU,  MS-63/65  $395; 

Choice  BU,  MS-65  . 585.00 

1936  Elgin.  Choice  BU,  MS-65 . 475.00 


1935  Hudson.  Choice  Brilliant  Uncirculated, 
MS-65.  A  splendid  specimen  of  one  of  the 
scarcer  major  design  types . 1,495.00 


1924  Huguenot.  Choice  AU-55  $80;  Select  BU, 
MS-63  $235;  Choice  BU,  MS-65  .  .  .  .575.00 

1946  Iowa.  Choice  BU,  MS-65 . 169.00 


MS-63  $235;  Choice  BU,  MS-65  .  .  .  .575.00 
1946  Iowa.  Choice  BU,  MS-65 . 169.00 

-27- 


1935  Lexington.  Choice  BU,  MS-65  269  00 

1918  Lincoln.  Choice  AU-55  $79;  Select  BU, 
MS-63/65 . 350.00 

1936  Long  Island.  Select  BU,  MS-63  $115;  Choice 

BU,  MS-65  . 235.00 

1936  Lynchburg.  Choice  Brilliant  Uncirculated, 
MS-65  . 529.00 

1920  Maine.  Select  BU,  MS-63  .  295.00 

1934  Maryland.  Select  BU,  MS-63  $250;  MS-63/65 
$350;  Choice  BU,  MS-65 . 575.00 

1921  Missouri.  EF-45 . 210.00 

1923-S  Monroe.  MS-60/63  . 60.00 

1926  Oregon.  Choice  BU,  MS-65  . 279.00 

1934-D  Oregon.  Mintage  of  7,006  pieces!  Select 
BU,  MS-63  $350;  Choice  Brilliant  Uncir¬ 
culated,  MS-65  . 650.00 

1936  Oregon.  Choice  BU,  MS-65 . 475.00 

1939  Oregon.  Set  of  three  pieces.  Choice  BU, 
MS-65.  An  exceptional  set!  . 2,250.00 

191 5-S  Pan-Pacific.  Choice  AU-55  $265;  Select 
BU,  MS-63/65  $995;  Choice  Brilliant  Uncir¬ 
culated,  MS-65  . 2,995.00 

1920  Pilgrim.  Choice  AU-55  $39;  MS-60  $59; 
Select  MS-63/65  . 130.00 


1921  Pilgrim.  Scarcer  issue.  Select  BU,  MS-63 
$225;  Chioce  BU,  MS-65 . 525.00 

1936  Rhode  Island.  Select  Brilliant  Uncirculated, 
MS-63  . 185.00 

1936-D  Rhode  Island.  Select  Brilliant  Uncir¬ 
culated,  MS-63  .  185.00 

1936-S  Rhode  Island.  Select  Brilliant  Uncirculated, 
MS-63  . 185.00 

1936  Rhode  Island  set  of  three  pieces.  Select  BU, 
MS-63  . 525.00 


LIKES  OUR  AUCTION  CATALOGUES! 

The  following  letter  is  from  Mrs.  Jean  Whitford, 
a  West  Coast  client  of  Auctions  by  Bowers  and 
Merena,  Inc.: 

"  Just  received  your  catalogue  of  the  Emery  and 
Nichols  Collections ...  I  would  like  to  comment 
on  the  catalogues  you  send.  They  are  always  very 
interesting  to  read.  This  time  I  was  very  surprised 
and  pleased  to  see  references  to  Mr.  Albert  A. 
Grinnell.  He  was  our  landlord  in  the  1930s  and 
gave  my  parents  25  silver  dollars  on  their  25th 
wedding  anniversary.  Unfortunately  the  money 
was  spent  (face  value)  for  necessities  as  we  had 
very  little  in  those  days.  When  Mr.  Grinnell 
learned  I  was  also  a  coin  collector  (I  was  about 
12  at  the  time),  he  kindly  invited  me  over  one  time 
to  see  his  collection.  This  was  the  time  when  a 
collector  could  keep  coins  safely  in  his  home.  I 
remember  being  impressed  with  his  fitted  drawers 
for  storing  coins.  He  lived  in  an  average  flat  over 
a  business  place  and  was  within  walking  distance 
of  our  flat  on  Woodward  Avenue  in  Highland 
Park,  Michigan.  As  a  gift  he  gave  me  a  coin  with 
his  picture  and  name  on  it— was  he  president  of 
the  American  Numismatics  Association?  I  will 
always  remember  him  as  a  very  gracious  person 

—Mrs.  Jean  Whitford 


1936  Bridgeport.  Select  BU,  MS-63/65  $295; 


Box  Special  #9 

"Sixty-three  Sampler" 

Sample  the  quality  of  our  Select  BU,  MS-63 
coin*  with  this  affordable  package.  Tom  Becker 
has  included  the  1925-S  California,  the  1936 
Rhode  Island,  mint  of  our  choice,  and  the  1925 
Stone  Mountain  which  normally  sell  for  a  total  of 
$455  in  a  three  piece  group  priced  at  just  $400. 
That's  just  like  buying  two  coins  at  the  regular 
price  and  getting  the  Stone  Mountain  for  free!  And 
to  add  frosting  to  the  cake,  if  you  send  only  $5 
more,  a  total  of  $405  he  will  also  send  along  a 
copy  of  the  Encyclopedia  of  United  States  Silver 
and  Gold  Commemoratives,  a  $19.95  value. 


1937  Roanoke.  MS-63  $295;  Choice  Brilliant  Un¬ 
circulated,  MS-65  . 545.00 

1936  Robinson.  MS-63  $165;  Choice  Brilliant  Un¬ 
circulated,  MS-65 . 319.00 

1935- S  San  Diego.  Choice  Brilliant  Uncirculated, 

MS-65  . 295.00 

1936- D  San  Diego.  Choice  Brilliant  Uncirculated, 

MS-65  . 365.00 

1926  Sesquicentennial.  Select  BU,  MS-63/65 

$110;  Choice  BU,  MS-65 . 425.00 

1925  Stone  Mountain.  BU,  MS-60  $39;  Select  BU, 
MS-63  $55;  Choice  BU,  MS-65  . 120.00 

1936-D  Texas.  Choice  BU,  MS-65  . 325.00 

1925  Fort  Vancouver.  Choice  AU-55  $295; 
Choice  BU,  MS-65  . 975.00 

1927  Vermont.  Choice  BU,  MS-65  .  .  .  .795.00 

1946  Booker  T.  Washington  set  of  three  pieces. 
Choice  Uncirculated,  MS-65  . 99.00 

1949  Booker  T.  Washington  set  of  three  pieces. 
Choice  BU,  MS-65  . 395.00 

1951  Washington-Carver  set  of  three  pieces. 
Choice  Uncirculated,  MS-65  . 225.00 

1954  Washington-Carver  set  of  three  pieces. 
MS-65  . 225.00 

1936  Wisconsin.  Choice  BU,  MS-65  .  .  .450.00 


Box  Special  #10 

A  Premium  Quality  Package 

If  you  were  sitting  at  Tom  Becker's  desk  you 
could  take  your  time  and  review  our  entire  inven¬ 
tory  of  commemorative  coins,  but  chances  are 
that  you  would  agree  with  him  that  the  following 
small  selection  represents  some  of  the  nicest 
pieces  in  the  inventory. 

If  you're  looking  for  quality  without  com¬ 
promise,  then  this  package  is  right  for  you.  You'll 
receive  one  each  of  the  following  and  every  coin 
is  a  Choice  BU,  MS-65. 

1936  Bridgeport 

1946  Iowa 

1925  Lexington 

1934  Maryland 

1937  Roanoke 

The  total  price  of  this  group  if  purchased  singly 
would  be  $2,003,  but  all  five  coins  can  be  yours 
for  just  $1 ,695. 


U.S.  Currency 

LEGAL  TENDER  ISSUES 

$1  F-39.  Series  of  1917.  Speelman-White.  Small 
red  scalloped  seal.  Last  issue  of  this  design 
'with  attractive  vignette  of  Christopher  Colum¬ 
bus  sighting  land).  Gem  New  179.00 


$5  F-64.  Series  of  1869.  Allison-Spinner.  Large  red 
seal.  Beautiful  multicolored  (red,  green,  blue) 
note  depicting  at  the  center  a  vignette  of  a 
pioneer  family.  Gem  New . 1,295.00 

$5  F-91.  Series  of  1907.  Speelman-White.  Small 
red  scalloped  seal  . 325.00 

$10  F-113.  Series  of  1880.  Lyons-Roberts.  Small 
red,  scalloped  seal.  A  wreath  of  ornate  features 
with  the  words  UNITED  STATES  in  lavishly 
embellished  letters.  Gem  New.  .  .  .1,150.00 

$10  F-122.  Series  of  1901 .  Speelman-White.  Small 
red  scalloped  seal.  Bison  note  as  preceding. 
Gem  New  . 2,150.00 

$10.  F-122.  Series  of  1901 .  Speelman-White.  Small 
red  scalloped  seal.  Bison  note  as  preceding. 
Gem  New  . 2,150.00 

SILVER  CERTIFICATES 


$1  F-216.  Series  of  1886.  Rosecrans-Hyatt.  Small 
red  plain  seal.  Front  with  portrait  of  Martha 
Washington.  A  popular  "type"  note.  Gem 
New . 1,295.00 

$1  F-230.  Series  1899.  Napier-McClung.  Blue  seal. 
Gem  New . 225.00 

$1  F-233.  Series  of  1899.  Teehee-Burke.  Blue  seal. 
Gem  New  $225;  Cut  sheet  of  four  pieces  (con¬ 
secutive  serial  numbers)  . 850.00 

$1  F-236.  Series  1899.  Gem  New . 225.00 

$1  F-237.  Series  of  1899.  Speelman-White.  Blue 


seal.  Gem  New  . 225.00 

$1  F-237.  Series  of  1923.  Speelman-White.  Blue 
seal.  Last  major  design  among  large  size  $1 
Silver  Certificates.  Gem  New  $89;  Cut  sheet 
of  four  pieces,  Gem  New . 345.00 

$1  F-238.  Series  of  1923.  Woods-White.  Blue  seal. 
Slightly  scarcer  than  the  preceding  note.  Gem 
New . 89.00 

$2  F-247.  Series  of  1896.  Tillman-Morgan.  Small 
red  seal.  The  famous  Educational  Series.  Gem 
New . 3,650.00 

$5  F-274.  Series  of  1899.  The  popular  "Indian 
Chief"  note.  Gem  New . 1,795.00 

SMALL  SIZE  U.S.  CURRENCY 

Uncut  sheet  of  12  notes,  as  issued,  series  of 
1928-C  $1  Silver  Certificates.  F-1603.  Gem 
New.  Only  seven  are  known  today.  A  superb 
find  for  the  specialist  . 12,500.00 

Uncut  sheet  of  12  notes,  as  issued,  series  of 
1928-D  Silver  Certificates.  F-1604.  New  sheet 
with  a  light  vertical  fold  down  the  middle,  not 
affecting  the  individual  notes.  Individually,  the 
notes  grade  Gem  New  with  the  exception  of 
two  which  grade  Choice  New.  Formerly 
owned  by  Amon  Carter,  Jr.  $2,950;  Gem  New, 
a  simply  superb  sheet . 4,750.00 

$1  F-1611.  Individual  notes.  Series  1935-B.  Julian- 
Vinson.  We  purchased  an  original  pack  of  100 
notes,  Gem  New  condition,  and  offer  them 
as  follows:  single  note  $9;  five  or  more  notes, 
each  . 7.00 

$1  F-2300.  These  notes,  bearing  a  special  brown 
seal,  were  prepared  with  the  word  HAWAII 
overprinted  on  the  front  and  the  back  for  use 
among  the  inhabitants  and  military  personnel 
located  on  the  Hawaiian  Islands.  $49  each,  or 
a  group  of  ten  for  . 475.00 


HEALTH  AND  HAPPINESS  IN  A  HOBBY 
By  Robert  K.  Botsford 

As  the  years  roll  by,  men  learn  and  discover  many  features  pertaining  to  life  that  astonish 
them  into  a  sense  of  wonderment  as  to  why  these  features  were  not  noted  before  and  duly 
exercised.  It  has  been  customary  to  state  that  man  should  have  an  avocation  as  well  as  a  voca¬ 
tion.  Not  much  was  done  about  having  both.  Some  developed  an  avocation  as  a  side  line 
while  the  vast  majority  went  along  completely  satisfied  with  a  mere  vocation. 

Times  have  changed  and  so  have  men.  The  stress  and  strain  of  modern  life  have  brought 
about  entirely  different  conditions  at  home  and  in  business.  Life  is  rushing  and  mankind  is 
swept  along  with  the  vast  activities.  And  the  family  physician  and  the  famous  psychiatrist  em¬ 
phatically  assert  that  now  and  as  never  before  we  do  all  need  an  avocation— a  hobby— to  balance 
our  other  activities.  It  is  no  longer  a  request.  It  is  an  imperative  order  or  command  from  those 
who  really  know  what  is  required.  Of  course,  men  may  need  food  and  clothes  and  shelter 
but  they  also  require  variety  and  diversion  and  recreation.  No  amount  of  hard  work  is  too 
much  providing  such  is  followed  by  plenty  of  rest  and  recreation.  And  the  right  attitude  toward 
work  which  is  done  without  a  sense  of  strain  realizing  that  sooner  or  later  will  come  the  period 
of  relaxation  and  the  opportunity  to  ride  a  hobby. 

Riding  a  hobby  is  the  best  exercise  for  the  mind  and  the  body  that  has  come  to  light  in  these 
many  centuries.  It  makes  little  or  no  difference  what  the  hobby  may  be,  providing  it  is  the 
source  of  unlimited  joy  and  pleasure  and  satisfaction  coupled  with  a  sense  of  doing  some  real 
thing  that  is  worthwhile  to  the  individual  mind.  Like  your  hobby  and  ride  it  hard.  Give  it  the 
time  and  the  thought  that  it  requires.  The  pay  in  happiness,  the  dividends  in  satisfaction,  the 
compensation  in  pleasure  will  be  more  than  surprising.  Truly,  one  reaps  what  he  sows  in  the 
hobby  field. 

No  Kentucky  Derby  with  all  its  horses  is  more  interesting  than  a  survey  of  the  hobby  horses 
of  an  intelligent  people.  Men  go  in  for  many  and  varied  lines  of  hobby  activity.  Women  go 
into  the  same  field  with  just  as  many  variations  to  their  hobby  activities. 

There  is  no  need  to  tell  you  what  to  collect  or  what  to  do  or  how  to  do  it.  Find  a  hobby 
and  follow  it  through.  And  in  turn  it  will  follow  you  through  the  years  and  be  a  constant  source 
of  pleasure  and  remuneration.  Collect  sea  shells  or  butterflies,  gather  together  the  old  coins 
and  stamps,  seek  the  antique  furniture  of  another  day,  look  for  the  old  Currier  and  Ives  prints, 
pick  up  Indian  relics,  work  for  the  histories  and  improve  them  if  possible,  do  just  what  you 
wish  and  when  you  wish— but  by  all  means  have  some  sort  of  a  hobby.  Have  an  avocation 
as  well  as  a  vocation. 


-28- 


Nineteen  eighty-five  marks  an  impor¬ 
tant  bicentennial  in  American  coinage: 
the  200th  anniversary  of  state  copper 
coinage.  It  was  back  in  1785  that  Ver¬ 
mont  and  Connecticut,  pioneers  in  the 
state  copper  .coinage  field,  produced 
their  first  varieties,  under  contract  with 
private  citizens. 

Your  editor  (Q.  David  Bowers)  has 
always  felt  that  state  copper  coins  of  the 
1785-1788  year  were  among  the  most 
fascinating  items  associated  with  the 
American  series.  In  recognition  of  this, 
we  invited  several  well-known  col¬ 
lectors  and  enthusiasts  in  the  field  to 
submit  brief  sketches  or  comments 
concerning  the  observance.  These  are 
presented  for  your  enjoyment: 


Connecticut  coinage  franchise  specifically  stated. 

The  year  1785  is  the  year  in  which  Continental 
Congress  adopted  the  dollar  and  cents  money  of 
account  system  for  the  United  States  and 
approved  coinage  denominations  for  our  future 
mint  on  a  decimal  basis. 


- . ..  A'x-* 

1785  -  1985 
An  Important 

NUMISMATIC 


BICENTENNIAL 


ERIC  P.  NEWMAN:  One  of  America's 
foremost  numismatic  writers  and  scholars,  has 
earned  several  Heath  Literary  Award  honors 
given  by  the  American  Numismatic  Association, 
has  studied  American  coins  extensively,  has 
penned  the  authoritative  works  on  Fugio  Cop¬ 
pers,  Continental  dollars,  and  Virginia  copper 
coinage,  and  has  participated  in  many  seminars 
and  educational  gatherings.  His  words  follow: 

The  year  1785  was  numismatically  very  signifi¬ 
cant  in  a  distinctive  manner  and  thus  deserves  the 
tribute  of  a  bicentennial  recognition. 

The  year  1785  saw  Vermont,  though  not  ac¬ 
cepted  as  a  state,  authorize  copper  coinage  to 
continue  to  assert  its  sovereignty  by  using  legends 
on  its  coins  to  gain  recognition  as  a  separate 
republic  (VERMONTENSIUM  RES  PUBLICA)  and 
to  be  the  14th  star  in  the  flag  (STELLA  QUARTA 
DECIMA). 

The  year  1785  is  the  actual  year  of  mintage  in 
England  and  circulation  in  America  of  the  Nova 
Constellatio  coppers,  even  though  some  varieties 
are  antedated  1 783  to  conform  to  the  date  of  the 
1783  silver  and  copper  patterns  from  which  the 
coinage  was  copied. 

The  year  1785  is  the  first  public  admission  that 
counterfeit  British-style  halfpence  were  being 
minted  in  America  as  the  petition  for  the  1785 


The  year  1 785  is  the  date  on  three  varieties  (two 
obverse  dies  and  two  reverse  dies)  of  counterfeit 
British-style  halfpence,  the  origin  of  which  cop¬ 
pers  is  undetermined  and  which  may  be  American 
because  they  are  not  listed  in  the  1868  publica¬ 
tion  of  the  immense  collection  of  English  coppers 
assembled  by  D.T.  Batty  of  Manchester,  England. 

The  year  1785  began  the  short  cycle  of  state  and 
federal  officially  franchised  coppers  which  were 
the  only  privately  minted  coins  circulated  in  the 
United  States  after  independence. 

My  attraction  to  the  state  and  federal  franchise 
coppers  and  to  those  secretly  made  by  Americans 
who  coined  without  a  franchise  is  based  upon  the 
great  opportunity  to  do  research  about  them.  They 
are  a  product  of  natural  economic  necessity;  they 
have  diverse  backgrounds  and  associated  person¬ 
nel;  they  suffered  from  the  complications  of  in¬ 
experience;  they  showed  the  initiative  of  private 
enterprise;  they  have  artistic  charm  and  quaint 
mottoes;  they  were  coined  in  a  period  of  transi¬ 
tion;  and  they  circulated  for  over  half  a  century. 

How  could  anyone  not  be  intrigued  by  studying 
and  collecting  what  was  started  in  1785? 

—Eric  P.  Newman 

*  *  * 

RICHARD  AUGUST :  Dick  August,  one  of  the 
foremost  collectors  in  the  field  of  state  and 
related  copper  coinages,  has  gathered  a  cabinet 
comprising  numerous  rarities  which  many  know 
only  from  reference  book  listings.  Along  the  way 
he  has  taken  time  to  study  what  he  has  acquired, 
with  the  result  that  his  knowledge  on  different 
varieties  and  their  rarities  is  of  the  first  order. 
His  tribute  follows: 


-29- 


When  I  was  five  years  old,  my  grandfather 
started  to  give  me  a  tew  old  coins  as  gifts.  That 
was  1945,  and  the  coins  were  Indian  cents,  Liberty 
nickels  and  Barber  coins.  I  can  still  remember  the 
fascination  and  beauty  that  these  coins,  made 
before  I  was  born,  held  for  me.  Time,  history,  and 
people  were  somehow  locked  up  in  these  tiny  lit¬ 
tle  objects. 

For  many  years  I  went  on  to  collect  United 
States  coinage,  when  finally  a  gift  of  my  own 
prompted  me  to  collect  early  American  colonial 
coins.  It  was  a  few  days  before  Father's  Day,  and 
I  decided  to  take  the  short  trip  from  our  Brookline 
home  via  the  MTA  to  a  coin  show  in  downtown 
Boston.  I  was  in  high  school  then,  I  figured  that 
I  had  $10  to  spend  on  a  present,  perhaps  a  coin, 
which  my  father  would  remember  forever.  I 
scouted  all  the  tables  at  the  coin  show  and  found 
nothing  really  interesting  or  unusual  until  I  spot¬ 
ted  this  odd-looking  large  copper  dated  1 787  with 
a  large  eagle  on  it  and  the  word  "Massachusetts.” 

I  didn't  know  a  thing  about  such  coins,  but  I 
opened  my  Guide  Book  and  discovered  some  fif¬ 
ty  pages  of  coins,  American  colonial  issues,  I  did 
not  even  expect  had  existed.  How  often  I  had 
opened  this  book  without  noticing  these  fifty 
pages.  The  coin  was  in  Fine  condition  and  the 
price  then,  some  25  years  ago,  was  $10,  which 
happened  to  equal  the  sum  I  had  to  spend.  I  took 
the  "eagle”  home,  examining  it  all  the  way  dur¬ 
ing  my  MTA  ride.  On  the  other  side  of  the  coin 
was  a  tall  Indian,  the  emblem  of  the  state  of 
Massachusetts.  The  workmanship  on  this  early 
coin  was  excellent.  Later  I  would  find  out  that 
Massachusetts  coppers  of  1787  and  1788  were 
generally  the  finest  made  colonial  state  coppers 
from  a  technical  coinage  viewpoint.  On  the  eve 
of  that  first  purchase  I  pored  through  all  the  pages 
oftheCu/de  Book  section  on  colonial  coins.. .Pine 
Tree  shillings,  Oak  Tree  shillings,  Willow  Tree  shill¬ 
ings,  Massachusetts  coppers,  Vermont  coppers 
with  ploughs  on  them,  New  Jersey  coppers  with 
horses  on  them,  Connecticut  coppers,  Fugio  with 
"Mind  Your  Business,"  Washington  coinage  and 
more. 

That  night  I  became  an  American  colonial  col¬ 
lector,  and  the  coin  that  was  to  be  a  present  ended 
up  as  my  first  colonial  piece  in  my  own  collec¬ 
tion!  In  fact,  today  Massachusetts  copper  is  one 
of  my  favorite  series,  and  I  personally  own  the 
most  extensive  collection  of  these  ever  formed, 
lacking  only  one  die  variety.  This  took  25  years 
and  I  am  still  hunting  for  new  die  varieties,  die 
states  and  better  grades. 

Over  the  years  I  have  found  American  colonial 
coins  interesting  to  collect  for  many  reasons. 
People  I  have  met  while  collecting  these  coins 
have  been  as  interesting  as  the  coins  themselves. 
Those  who  have  owned  these  coins  seem  to  have 
often  left  their  own  mark  upon  them.  The  coins 
themselves  reflect  "a  time  and  history"  interesting 
to  Americans.  Even  though  these  coins  do  not 
have  "United  States"  upon  them,  they  are  most 
worthy  to  belong  in  an  American  collection.  The 
craftsmanship,  beauty,  devices  and  legends  of 
these  coins  still  speak  of  the  colonist's  sentiments, 
although  sometimes  in  a  folksy  Latin:  "Inde  et  Lib" 
for  "Independence  and  Liberty,"  for  example.  I've 
always  found,  and  still  find,  that  the  hunt  for  col¬ 
onial  coins  is  somewhat  like  the  lure  of  prospec¬ 
ting  and  far  more  interesting  than  sending  to  the 
mint  for  mint  sets.  Also,  it  never  ceases  to  amaze 
me  how  truly  rare  these  coins  are  in  comparison 
with  other  United  States  issues  and  that  still  these 
coins  are  more  affordable  to  me  than  some  of 
those  very  early  rare  United  States  pieces. 

And  lastly,  there  is  a  great  challenge  in  collec¬ 
ting  coins  The  first-hand  records  of  this  coinage 
rirf  oftr-n  incomplete  or  nonexistent,  so  it  is  often 
pov.ib  <  for  a  collector  today  to  discover  by  study¬ 
ing  the  actual  coins  more  about  what  really  did 


exist.  The  coinage  is  so  varied  that  it  is  not  possi¬ 
ble  to  ever  get  to  the  point  of  completion  or 
boredom  or  perfection.  Much  like  the  realities  of 
life,  collecting  this  series  involves  an  unending 
search.  However,  I've  never  seen  this  as  any  great 
frustration.  I  can't  collect  every  colonial  item,  but 
I  know  I  can  form  a  unique  collection  in  its  own 
way.  By  selecting  a  certain  section  of  colonial 
coins  to  stress  in  my  collection,  colonial  state  cop¬ 
pers  and  Fugio  cents,  I  can  add  my  own  mark  to 
these  coins  in  the  series. ..and  so  can  everyone 
else. 

—Richard  August 

*  *  * 

GARY  A.  TRUDGEN:  Gary  Trudgen  has 
emerged  on  the  collecting  scene  in  recent  times 
as  a  knowledgeable  specialist  in  state  coppers, 
particularly  with  regard  to  the  coinage  of  Thomas 
Machin  on  the  shores  of  Orange  Pond,  near 
present-day  Newburgh,  New  York.  A  frequent 
contributor  to  "The  Colonial  Newsletter,"  Gary 
writes  in  an  interesting  and  authoritative 
manner: 

The  copper  coinage  of  the  early  states,  to  me, 
is  the  most  interesting  area  of  American 
numismatics  because  it  was  the  first  domestic 
coinage  of  our  new  nation,  following  the  Revolu¬ 
tion.  My  interest  in  this  coinage  exists  at  several 
different  levels. 

First— The  conditions  under  which  the  coins 
were  made:  This  coinage  occurred  under  relative¬ 
ly  primitive  conditions  during  the  beginnings  of 
our  great  nation.  The  United  States  had  just  won 
her  independence  from  Great  Britain  and  was 
loosely  bound  together  by  the  Articles  of  Con¬ 
federation.  The  federal  government  had  not  yet 
been  established.  To  me,  this  period  of  American 
history,  along  with  the  American  Revolution,  is 
very  interesting  to  study. 

Second— The  people  involved  with  the  coinage: 
The  lives  of  the  people  who  founded  these  early 
mints  and  sought  coinage  grants  from  the  states 
and  Continental  Congress  are  fascinating  to 
research  and  study.  In  many  instances  they  were 
men  of  distinction.  For  example,  Matthias  Ogden 
and  Thomas  Machin  were  heroes  of  the  Revolu¬ 
tionary  War. 

Third— Early  American  coinage  technology: 
Understanding  the  methods  and  technology  used 
by  these  early  coiners  demands  detective-type  in¬ 
vestigation.  Study  of  the  coins  themselves  is  re¬ 
quired  because  there  are  no  known  extant  coin¬ 
ing  implements  and  few  contemporary  coinage 
records  from  this  era. 

Fourth— Collecting  the  coins:  I  find  that  building 
a  die  variety  collection  of  one  of  the  state  coinages 
is  a  real  challenge  because  there  are  many  rare 
varieties  that  were  often  created  by  early  die 
failure.  If  collectors  wish  to  increase  this  challenge, 
they  can  be  very  selective  concerning  the  grade, 
strike,  planchet  condition  and  coloration  of  the 
coppers  that  they  acquire  for  their  collection. 

For  me,  these  state  coppers  open  a  window 
through  time  to  the  beginning  of  our  nation.  Im¬ 
agine  owning  a  piece  of  an  instrument  that  was 
employed  to  bring  about  the  birth  of  our  nation! 
It  so  happens  that  with  the  state  coinages  there 
is  just  this  opportunity.  Some  of  the  Machin's  Mills 
imitation  British  halfpence  were  coined  from  brass 
cannons  and  mortars  that  were  in  all  likelihood 
used  during  the  Revolutionary  War. 

—Gary  A.  Trudgen 

*  *  * 

WILLIAM  T.  ANTON,  JR.:  Bill  Anton  has 
formed  one  of  the  finest  collections  of  New 
Jersey  coppers  (1786-1788)  ever  gathered 
together,  but  at  the  same  time  he  has  an  interest 

-30- 


in  many  other  contemporary  copper  series.  A 
familiar  figure  at  coin  auctions  and  conventions, 
Bill  is  always  eager  to  add  specimens  not  already 
represented  in  his  fine  cabinet.  He  notes: 

Since  the  tender  age  of  four,  I  have  been  col¬ 
lecting  coins.  Some  46  years  ago  my  dad,  to 
whom  I  owe  a  great  deal  more  than  a  pen  could 
ever  write,  started  me  like  all  youngsters  with  Lin¬ 
coln  cents.  To  me  at  that  time  owning  a  Very 
Good  Indian  cent  was  a  real  treat.  By  the  time 
I  was  six  years  old  the  bank  on  the  corner  where 
I  lived  knew  my  face  very  well,  as  I  would  every 
other  day  exchange  a  $10  bill  for  $10  in  cents. 
Going  through  the  rolls  of  "pennies"  I  would  find 
all  different  dates,  including  over  a  period  of  time 
one  1909-S,  about  three  of  the  1909-S  V.D.B.'s, 
one  1914-D,  and  several  of  the  other  scarce  dates. 

I  learned  that  the  hardest  Lincoln  cent  to  find  in 
those  days  was  the  1922  "plain."  I  found, one 
1922  plain  compared  to  about  seven  1922-D's  for 
every  two  weeks  of  looking. 

From  Indian  and  Lincoln  cents  I  quickly 
expanded  to  the  entire  United  States  series,  go¬ 
ing  from  there  to  federal  paper  money  and  to  na¬ 
tional  bank  notes.  By  the  time  I  was  18  years  of 
age  I  was  a  commissioned  buyer  at  major  auc¬ 
tions  and  private  treaty  for  several  collectors  who 
had  faith  in  my  judgment  as  to  what  to  buy  and 
collect. 

I  must  thank  David  Bullowa  for  introducing  me 
to  Americana.  I  made  several  visits  to  his  dorm 
in  Philadelphia  and  enjoyed  listening  to  him  giv¬ 
ing  me  words  of  wisdom.  This  became  rather 
routine  for  me  as  I  went  to  Villanova  University 
and  lifted  weights  at  the  52nd  Street  YMCA.  After 
classes  and  on  my  lifting  workout  days,  I  would 
stop  in  at  David  Bullowa's  coin  shop  off  of 
Chestnut  Street  and  talk  coins  before  eating  and 
returning  back  to  my  college  campus  on  the  Main 
Line. 

I  started  dealing  while  still  in  college,  but  I  main¬ 
tained  my  collecting  interest.  To  this  date  I  am  still 
a  collector  of  coins  in  general  and  a  specialist 
dealer  in  Americana  in  particular,  mainly  colonial 
coins,  currency,  and  medals. 

American  colonial  coins  have  become  my  major 
interest,  with  a  special  love  and  admiration  for 
New  Jersey  copper  cents.  This  was  natural  for  me. 
I  have  lived  in  New  Jersey  all  of  my  life  and  grew 
up  on  a  farm  playing  and  working  a  plow.  I  have 
loved  horses  since  childhood  and  while  attending 
Oakland  Military  Academy  in  my  pre-teens  I  was 
a  member  of  the  cavalry.  I  won  every  prize  possi¬ 
ble  for  horseback  riding,  racing,  jumping,  and 
show  at  the  Academy  for  two  active  years  of 
riding.  Although  my  audience  now  looking  at  me 
may  find  it  hard  to  believe,  I  was  at  one  time  lead 
exercise  jockey  at  Saratoga  raceway.  New  Jersey 
coppers,  which  show  the  motif  of  horse  and  plow, 
are  part  of  me.  I  think  they  are  the  most  beautiful 
coins  in  the  world. 

New  Jersey  coppers  offer  the  perfect  challenge. 
With  1 35  different  horsehead  die  varieties  present¬ 
ly  known,  any  collector  just  starting  out  could  put 
together  an  assembly  of  90  different  examples 
without  too  much  difficulty  and  at  very  moderate 
prices.  Colonial  coins  in  general  are  greatly  under- 
priced,  in  my  opinion.  A  clean  Fine  piece  is  a  very 
acceptable  condition  and  can  fit  the  budget  of 
almost  any  age  group.  Other  pieces  are  apt  to  be 
more  expensive.  I  have  to  thank  Dave  Bowers  for 
the  genius  that  was  applied  in  auctioning  off  the 
world-famous  Garrett  Coin  Collection.  Never 
before  in  modern  numismatic  history  have  so 
many  colonial  coins  in  top  condition  and  rarity 
been  offered  for  public  auction.  Even  the  great 
Chapman  sales  of  decades  ago  didn't  match  up 
with  the  depth  and  magnitude  of  such  an  offer¬ 
ing.  The  timing  was  right,  the  cataloguing  was  un 
paralleled,  the  numismatic  world  was  mesmeriz- 


ed.  I  bought  at  the  October  1 ,  1980  Garrett  Sale 
some  New  Jersey  coppers  that  I  never  thought  in 
my  lifetime  I  would  ever  own.  Many  of  the  coins 
belonged  to  the  granddaddy  of  New  Jersey  cop¬ 
pers,  Dr.  Edward  Maris,  and  were  so  plated  in  this 
monumental  1881  book  on  same.  I  feel  fortunate 
in  my  lifetime  that  this  special  event  happened 
and  I  was  there.  More  collectors  should  feel  this 
way  about  coins  they  own.  Too  many  people  buy 
a  coin  and  look  for  a  profit  the  next  day.  I  have 
found  a  very  simple  formula  for  making  money 
in  the  coin  business.  First,  be  very  discriminating 
when  you  buy.  Now  you  can  enjoy  owning  your 
coin  while  admiring  and  holding  it  for  several 
years  before  selling.  You  will  find  at  this  time 
doubling  your  money  is  not  at  all  out  of  the  or¬ 
dinary.  Make  the  switch,  readers,  as  I  have,  and 
buy  your  first  American  colonial  coin.  There  are 
many  books  on  all  the  different  state  coinages 
available  in  the  marketplace.  A  good  place  to  start 
is  at  the  beginning  of  the  Cuide  Book  which  in¬ 
cludes  nearly  50  pages  on  the  subject. 

—William  T.  Anton,  Jr. 

♦  *  * 

JAMES  C.  SPILMAN:  "The  year  1985,  as  well 
as  being  the  200th  anniversary  of  the  great  cop¬ 
per  splurge,  will  be  the  25th  anniversary  of  The 
Colonial  Newsletter — how  about  that!,"  wrote 
Jim  Spilman  when  he  transmitted  his  comment. 
As  editor  of  this  scholarly  newsletter,  Jim  has 
published  information  on  many  varieties  and 
areas  of  colonial,  state,  and  early  American 
coinage  and  in  the  process  has  made  many 
lasting  contributions  to  our  fraternity.  For  this 
issue  of  the  Rare<Coin  Review  he  has  the  follow¬ 
ing  to  say: 

"It  is  convenience  only,  that  ought  to  be  con¬ 
sidered  with  respect  to  copper  coinage,  and  not 
money  or  riches.  It  was  going  on  this  last  idea, 
instead  of  the  first  one,  that  entangled  the  former 
Congress  and  the  several  states.  They  attempted 
to  do  what  no  other  nation  ever  thought  of  do¬ 
ing,  and  which  was  impossible  to  do— that  of  ex¬ 
alting  copper  (coins)  into  national  wealth." 

So  wrote  Thomas  Paine  in  Thoughts  on  the 
Establishment  of  the  Mint  in  the  United  States, 
published  in  the  National  Cazzette  Philadelphia, 
November  17,  1791. 

These  thoughts  of  Thomas  Paine  pointed  up  a 
lesson  learned  with  great  difficulty  by  the  in¬ 
dividual  states  and  by  the  newly-formed  federal 
government  during  the  years  1 785-1 788.  The  con¬ 
cept  that  copper  coins  could  be  successfully  pro¬ 
duced  by  private  contract  was  an  attractive  one— 
but  it  just  did  not  work  out.  All  those  who  played 
the  game  failed— and  failure  in  those  days, 
generally  led  to  debtor's  prison. 

But  they  tried,  and  in  the  process  was  produced 
a  unique  series  of  events  in  the  numismatic  history 
of  America  and  an  even  more  unique  series  of 
state  and  federal  coinage  that  remain  today,  200 
years  later,  a  fertile  field  for  fruitful  research.  In 
my  mind,  these  four  years  in  the  first  decade 
following  the  American  Revolution  are  unequalled 
in  the  recorded  numismatic  history  of  any  nation 
in  the  world.  All  the  elements  of  mystery  and  in¬ 
trigue,  of  invented  genius,  personal  success  and 
failure,  of  private  enterprise  and  public  service  are 
intertwined— many  just  now  being  discovered, 
and  even  more  awaiting  discovery— all  of  these 
elements,  and  more,  are  present.  There  is 
something  for  everyone,  from  the  "investor"  to 
the  collector  to  the  research  scientist,  the  beauty 
of  it  all  is  that  the  surface  has  been  but  lightly 
scratched. 

The  copper  coinages  of  this  period  are  truly 
"early  American"  in  every  sense.The  largest  group 
is,  of  course,  the  Connecticut  coppers  produced 
principally  in  New  Haven  by  the  famous  "Com¬ 


pany  for  Coining  Coppers."  Here  we  have  more 
than  400  coinage  dies  used  to  produce  almost  350 
die-variety  combinations  over  the  entire  four  year 
period.  The  effort  required  to  produce  this  quan¬ 
tity  of  coinage  dies  must  have  been  awesome! 

Then  we  have  the  copper  coinage  of  Vermont 
produced  by  Reuben  Harmon,  Jr.  of  Rupert,  Ver¬ 
mont  during  the  same  four  years.  During  1786 
New  Jersey  granted  a  contract  to  coin  copper  to 
Walter  Mould,  Thomas  Goadsby  and  Albion  Cox. 
Next  was  Massachusetts  with  both  half  cents. 
Then  Thomas  Machin  of  New  York  formed  his  in¬ 
famous  "Machin's  Mills"  organization  and  pro¬ 
duced  almost  everything  for  everyone.  If  that  were 
not  enough  excitement,  the  federal  government 
requested  proposals  to  produce  a  federal  cent  and 
eventually  awarded  a  contract  under  questionable 
circumstances  to  James  Jarvis  and  his  associates 
who  coined  some  400,000  Fugio  cents— our  first 
American  cent— before  his  operations  fell  prey  to 
the  impossible  dream  of  creating  wealth  from  cop¬ 
per  coins. 

With  such  a  background,  how  could  these  early 
American  coins  fail  to  evoke  interest?  Even  fur¬ 
ther  back  in  time  are  many  issues  of  earlier  years 
including  even  those  of  the  native  American  In¬ 
dian  tribes  in  their  unique  medium  of  exchange 
commonly  known  as  wampum,  or  wampum- 
peage.  If  we  were  to  follow  the  written  colonial 
records  that  have  come  down  to  us  we  would 
speak  of  it  as  "peage"  or  even  "peg."  There  ap¬ 
pears  to  be  no  limit  to  the  varied  opportunities 
in  "early  American  numismatics";— yet,  this  seg¬ 
ment  of  American  numismatics  is  little  known  to 
the  average  collector.  I  hope  this  brief  discussion 
will  catch  the  interest  of  someone  who  wants  to 
learn  more  of  this  fascinating  era  and  that  it  will 
serve  to  lead  them  into  this  field  that  contains 
more  opportunities  and  challenges  than  any  other 
in  American  numismatics. 

—James  C.  Spilman 

Ed.  Note:  It's  appropriate  at  this  point  to  sug¬ 
gest  that  interested  "Rare  Coin  Review"  readers 
request  a  sample  copy  of  "The  Colonial  Newslet¬ 
ter"  from  )im  Spilman ,  whose  address  is  Box  4411, 
Huntsville,  Alabama,  35802. 

*  *  * 

ROY  E.  BONJOUR:  The  following  tribute  to 
the  bicentennial  of  state  coinage  is  by  Roy  Bon- 
jour,  the  New  York  collector  who  has  published 
several  articles  on  the  top  subject  of  Vermont 
coppers  in  recent  times  and  who  has  compiled 
a  listing  of  known  varieties  of  Ryder-15  and 
Ryder-30: 

Why  would  anyone  want  to  collect  Vermonts? 
Certainly  in  this  day  and  age  when  hymns  are  daily 
and  routinely  sung  to  the  God  "MS-65"  these  ugly 
ducklings  have  little  place.  I  doubt  if  anyone  has 
fallen  in  love  with  them  at  first  sight.  I  believe  that 
most  of  us  who  share  love  and  fascination  for 
these  coins  have  gravitated  toward  them  over  a 
period  of  years.  At  least  this  is  what  happened  to 
me. 

As  a  history  teacher  I  have  always  felt  excite¬ 
ment  when  studying  our  colonial  and  post¬ 
revolutionary  period.  It  was  only  natural  that 
when  I  returned  to  coin  collecting  I  should  choose 
this  area  of  specialization.  It  was  easy  for  me  to 
start  collecting  colonials  in  the  early  1970s 
because  I  was  not  jaded  by  the  gods  that  now  rule 
the  collecting  fraternity.  In  fact,  I  was  so  "stupid" 
that  I  refused  to  buy  Brilliant  Uncirculated  Virginia 
halfpennies  that  were  selling  for  $25  each.  I  pre¬ 
ferred  the  worn  version.  This  might  indeed  seem 
strange  to  most  of  you,  but  I  was  naive  in  those 
days.  I  thought  that  one  collected  coins  for  the 
intellectual  richness  that  they  can  bring;  not 
necessarily  for  the  financial  reward.  Put  a  cir¬ 


culated  Vermont  in  your  hand  and  close  your 
eyes.  Do  you  feel  the  presence  of  the  Vermont 
farmer  on  your  palm?  Can  you  experience  his 
loves  and  hates,  share  his  problems?  I  can!  Try 
holding  an  MS-65  silver  dollar  in  your  hand  and 
all  you  feel  is  the  cold  of  the  vault  where  it  spent 
most  of  its  barren  existence. 

I  approached  the  collection  of  colonial  coins 
in  a  helter  skelter  manner;  no  plan,  just  the  Guide 
Book  in  hand.  I  decided  to  try  a  new  approach 
and  sent  Dave  Bowers  a  sum  of  money  and  told 
him  to  pick  out  some  colonial  issues  which  he 
thought  I  might  enjoy.  In  a  group  of  seven  coins 
that  arrived  there  were  three  Vermonts.  I  guess 
Dave's  own  love  of  Vermont  colored  his  choices. 
At  any  length  I  was  now  in  possession  of  my  first 
Vermont  issues! 

I  then  started  to  research  what  I  had.  I  was  very 
fortunate  to  meet  a  Vermont  collector,  Harold 
Hauser,  who  proceeded  to  fill  my  files  with  ar¬ 
ticles  on  Vermont.  I  bought  Crosby  and  read  all 
the  material  I  could  find.  Before  I  knew  it,  I  was 
a  Vermont  specialist! 

Much  of  what  is  being  collected  today  is  like 
ladies  of  the  night.  After  you  see  through  the  glit¬ 
ter  there  is  little  substance.  The  Vermont, 
however,  is  like  Eliza  Dolittle.  Once  you  remove 
the  grime  you  discover  her  hidden  beauty.  I 
believe  that  knowledge  holds  the  key  to  ap¬ 
preciating  the  coins  of  Vermont  and  unlocking  the 
secrets  of  their  charm.  The  landscape  type  is  tru¬ 
ly  the  most  beautiful  of  all  the  state  coppers.  This 
design  features  a  mountain  range  with  a  stand  of 
pine  trees  on  it.  Just  behind  the  mountain  is  a 
magnificent  rising  sun,  full  of  hope  and  promise. 
The  American  spirit  radiates  forth  in  this  early 
primitive  design.  As  an  analysis  of  the  coin  con¬ 
tinues,  more  and  more  of  the  Vermont  hopes  and 
aspirations  are  revealed.  The  coin  becomes  alive 
with  American  history! 

After  I  studied  the  coins,  I  then  turned  to  the 
people  who  made  them.  Here,  history  has  assem¬ 
bled  a  cast  of  characters  that  could  titillate  the  fan¬ 
cies  of  a  movie  producer.  Unfortunately,  much 
is  unknown  about  what  really  happened  during 
those  years.  In  fact,  I've  recently  published  a  paper 
which  challenges  some  of  the  currently  held 
beliefs.  This  is  what  makes  Vermont  so  interesting! 

Obviously  there  is  more  to  collecting  Vermont 
coins  than  their  history.  I  like  them  because  it  was 
a  short  series  containing  only  39  types  or  varieties, 
with  enough  variation  to  make  the  pieces  in¬ 
teresting.  There  are  extreme  rarities  which  I  will 
never  own,  but  hope  springs  eternal.  Few  dealers 
know  enough  about  the  series  to  identify  the 
rarities,  so  each  coin  show  is  always  filled  with 
anticipation  that  an  elusive  coin  is  waiting  to  be 
discovered.  Because  there  are  relatively  few  Ver¬ 
mont  collectors  (compared  to  other  series),  great 
rarities  can  be  bought  for  relatively  reasonable 
prices.  This  was  another  reason  that  encouraged 
me  to  collect  them. 

In  summary,  I  collected  Vermont  coins  because 
they  met  all  of  my  needs.  They  were  collectable, 
that  is,  available  at  respectable  prices.  I  found  that 
they  had  significant  historical  interest  and  this  pro¬ 
vided  an  intellectual  challenge.  They  even  pro¬ 
vided  an  outlet  for  the  romantic  in  me  to  come 
out.  They  are,  indeed,  the  perfect  series! 

*  *  * 

ANTHONY  TERRANOVA:  "Tony"  Terranova,  a 
colonial  dealer  and  specialist,  has  an  intense  per¬ 
sonal  interest  in  the  things  he  buys  and  sells.  In 
recent  years  he  has  handled  many  important 
items  among  early  American  issues.  Here  he  tells 
of  his  initial  interest  and  his  feelings  concern¬ 
ing  the  field: 

My  interest  in  copper  state  coinage  began  about 


-31- 


12  years  ago.  I  guess  I  was  drawn  at  first  to  their 
reasonably  affordable  price  structure.  But,  the 
more  one  looks  at  and  handles  them,  the  more 
one  finds  that  each  piece  has  a  uniqueness  all  its 
own.  From  the  crudeness  of  manufacture  and 
wonderful  range  of  colors  to  the  challenge  of 
locating  them  each  coin  is  “special."  Sometimes 


even  a  piece  that  is  not  expensive  may  take  a  good 
period  of  time  to  locate. 

To  me,  collecting  something  should  not  be  a 
matter  of  simply  spending  money  to  instantly  buy 
anything  you  want.  Rather,  there  should  be  a 
hunt,  a  challenge.  Colonial  coins  offer  such  a 
challenge. 


The  next  time  you  handle  a  coin  of  this  period, 
stop  a  minute  and  think  about  what  it  represents. 
This  country's  beginnings  and  attempts  at  a 
monetary  structure  are  just  two  considerations. 
These  little  round  copper  discs  are  part  of  our 
American  heritage— Anthony  Terranova 
♦  *  * 


SPECIAL  "AMERICAN  HERITAGE 
ISSUE! 


The  December  1984  issue  of  American  Heritage, 
the  famous  history  magazine,  has  as  its  cover 
feature  an  article  by  Q.  David  Bowers,  "American 
Gold"— a  story  of  the  role  gold  coins  have  played 
over  the  years.  Among  the  illustrations  are  gems 
from  the  National  Collection  in  the  Smithsonian  In¬ 
stitution,  including  the  unique  1849  double  eagle. 

We  have  secured  several  hundred  copies  of  the 
December  issue  and  offer  them  for  the  cover  price 
of  $3  plus  $1  postage  and  handling,  or  $4.  Request 
"American  Heritage  issue"  when  ordering.  Price: 
$4,  including  postage. 


AMERICAN  HERITAG 


I  WISH  I’D  BEEN  THERE 
An  Exercise  in  Historical 
Imagination 


-32- 


Early  American  Coins 

A  customer  who  had  just  purchased  one  of  our 
Colonial  Packages  called  to  tell  me  how  much  he 
enjoyed  the  selection  of  coins  he  had  received. 
He  was  delighted  with  the  quality  of  the  coins  and 
the  fact  that  now  sitting  on  his  desk  were  coins 
which  had  actually  circulated  in  the  American  col¬ 
onies.  His  parting  remark  sums  up  the  way  many 
collectors  feel  about  their  collections  of  colonial 
coins.  He  said,  "I  usually  buy  coins  primarily  for 
investment,  but  I  will  never  sell  these!" 

Each  colonial  coin  package  we  sell  contains  a 
beautiful  selection  of  very  significant  coins  at 
"special"  package  prices.  Along  with  your  coins 
you  will  also  receive  a  selection  of  literature  that 
will  help  you  to  learn  more  about  the  history 
behind  the  coins  and  will  provide  hours  of 
enjoyment. 

Warming:  When  you  order  a  colonial  package 
be  prepared  to  get  "hooked"  on  these  coins.  I'm 
sure  that  the  coins  you  receive  will  soon  become 
some  of  the  most  treasured  pieces  in  your 
collection. 


Colonial  Package  No.  1 . $1,000.00 

Colonial  Package  No.  2 . $2,500.00 

Colonial  Package  No.  3 . $5,000.00 


1652  Massachusetts  Pine  Tree  shilling.  Large  plan- 
chet.  Noe-8.  Extremely  Fine  to  About  Uncir¬ 
culated.  A  piece  which  has  seen  very  little  cir¬ 
culation.  The  previous  owner  called  it  Uncir¬ 
culated.  The  issue  is  virtually  as  struck.  Some 
rim  irregularities  can  be  observed,  as  made. 
An  outstandirfg  specimen  for  the  connoisseur 
or  for  someone  looking  for  a  special  example 
of  the  large-planchet  variety  . 4,400.00 


1652  Massachusetts  Pine  Tree  shilling.  Large 
planchet.  Noe-11.  Very  Fine  to  Extremely 
Fine.  A  beautiful  specimen  of  this  issue.  Ever 
so  slightly  finer  than  the  Roper  Collection  coin, 
itself  an  outstanding  example.  Some  striking 
weakness  in  areas  as  usual.  A  superb  specimen 
of  the  only  variety  with  the  state  spelled  as 
MASATVSETS  (without  H)  . 3,400.00 


1652  Massachusetts  Pine  Tree  shilling.  Small 
planchet.  Noe-29.  EF.  Sharply  struck  and  very 
beautiful  specimen  of  the  second  major  type 
within  the  Pine  Tree  series.  Another  prize 
piece  for  the  connoisseur . 2,950.00 


1766  Pitt  halfpenny.  EF-AU.  A  splendid  specimen 


of  this  scarce  issue.  Sharply  struck  with  glossy 
light  brown  surfaces.  This  example  is  one  of 
the  nicest  Pitt  halfpennies  to  come  on  the 
market  in  recent  times .  1,895.00 


1773  Virginia  halfpenny.  Variety  with  period  after 
GEORGIVS.  Choice  BU  with  a  few  scattered 
spots,  as  usually  seen,  but  far  fewer  than  nor¬ 
mal.  A  splendid  piece  with  an  abundance  of 
original  mint  color.  A  beauty! . 895.00 


Superb  1787  Immunis  Columbia 


1787  Immunis  Columbia  copper  cent.  Obverse 
with  seated  goddess  holding  the  scales  of 
justice.  IMMUNIS  COLUMBIA  surrounding. 
Reverse  with  heraldic  eagle.  This  piece  is 
described  on  page  33  of  the  1985  Edition  of 
the  Guide  Book  of  United  States  Coins.  Choice 
Uncirculated  with  red  and  brown  surfaces. 
Struck  with  needle-sharp  detail  on  every  por¬ 
tion  of  the  coin.  Ample  traces  of  original  mint 
red.  A  simply  superlative  specimen  of  a  coin 
seldom  seen  in  grades  better  than  EF,  and  not 
often  seen  even  in  that  grade.  An  item  for  the 
collector  of  early  American  coins  who  ap¬ 
preciates  the  very  finest . 9,750.00 


1788  Massachusetts  half  cent.  Ryder  1-B.  Choice 
Unc.,  lustrous  brown  surfaces.  Trace  of  light 
striking  near  the  center  of  the  figure,  as  made. 
One  of  the  finest  known  examples  of  this  issue. 
Only  when  great  collections  come  on  the 
market  are  pieces  of  this  quality  seen.  Whether 
you  are  forming  a  type  set  of  Massachusetts 
pieces  or  a  collection  by  variety,  this  is  deser¬ 
ving  of  your  close  attention . 2,450.00 


1788  Massachusetts  cent.  Period  after 
MASSACHUSETTS.  Ryder-IOL.  About  Uncir¬ 
culated,  sharp  and  lustrous.  Gorgeous  light 
brown  surfaces  .  1,295.00 

1785  Connecticut.  Miller  4. 1-8.4  African  Head 
variety.  Very  Fine.  Some  lightness  of  impres¬ 
sion,  as  made,  at  the  extreme  outside  border 
on  the  right  and  on  the  corresponding  part  of 
the  reverse.  Excellent  central  detail.  A  far 
above  average  specimen . 395.00 


1786  Connecticut.  Miller-5. 3N.  Hercules  Head 
A  scarce  (R-3)  variety.  Spectacularly  double 
struck.  A  marvelous  piece  for  the  specialist. 
Fine  to  Very  Fine . 595.00 


1787  Connecticut.  Horned  Bust  variety.  Miller  4-L. 
Spectacularly  double  struck,  with  prominently 
doubled  features  in  just  about  every  area.  A 
wonderful  item  for  the  Connecticut  specialist 
or  for  the  numismatist  who  desires  something 
unusual  and  fascinating.  Uncirculated,  with 
lustrous  brown  surfaces.  Even  without  the  dou¬ 
ble  struck  feature,  the  piece  would  be  a  land¬ 
mark  among  Connecticut  coppers.  Another 
classic  item  . 3,995.00 


1787  Connecticut.  Miller  32.2-X-2.  Draped  Bust 
left.  Spectacularly  double  struck,  with  the 
obverse  flipped  over  on  the  reverse.  Parts  of 
the  reverse  legend  are  visible  at  the  center  of 
the  obverse,  and  vice-versa.  Nice  VF.  A 
wonderful  item  for  the  specialist  .  .  .995.00 

1787  Connecticut.  Draped  Bust  left.  Our  choice 
of  die  varieties.  Nice  Fine . 85.00 


1787  Connecticut.  Draped  Bust  left  variety.  Miller 
33.38-Z.23.  A  very  rare  (R-7)  die  variety.  Very 
Fine  to  EF . 795.00 


1787  Connecticut.  Miller-43. 1-Y.  CONNFC 
misspelling.  Sharp  AU  grade.  Extremely  well 
struck  with  wonderful  detail.  Another 
marvelous  Connecticut  copper!  .  995.00 


-33- 


1788  Connecticut.  Miller  4.1-K.  Spectacularly 
double  struck,  with  the  obverse  impression 
consisting  also  of  the  top  part  of  the  reverse! 
The  striking  caused  a  distending  of  the  plan- 
chet,  with  the  result  that  it  is  of  an  oblong 
shape.  This  coin  is  probably  the  most  spec¬ 
tacular  error  that  we  have  ever  seen  of  a  Con¬ 
necticut  issue.  Twice  our  price  would  not 
locate  another.  This  is  certainly  a  conversation 
piece  which  will  attract  attention  and  be  ad¬ 
mired  wherever  collectors  of  state  copper 
coins  gather!  Very  sharp  . 3,450.00 


1788  Connecticut.  Draped  Bust  left  variety.  Miller 
15.1-L.1.  Very  rare  (R-6)  variety.  A  pleasing 
Very  Fine  specimen  with  a  wealth  of  sharp 
design  detail . 695.00 


1788  Machin's  Mills  imitation  British  halfpenny. 

Vlack-1 1-78A.  Spectacularly,  wonderfully  dou¬ 
ble  struck  with  two  dates,  portions  of  two 
heads,  and  so  on.  The  second  impression  is 
50%  off-register  from  the  first.  VF.  .  .695.00 


1787  Nova  Eborac  (New  York)  coinage.  Refer  to 
page  43  of  A  Guide  Book  of  United  States 
Coins.  Type  with  figure  on  reverse  facing  right. 
Extremely  Fine.  Very  sharp.  A  remarkable  ex¬ 
ception  to  the  poor  planchets  and  low  grades 
usually  seen .  1,295.00 


1 787  '  4f/va  Eborar  Reverse  with  seated  figure  fac¬ 
ing  left  EF,  a  few  marks . 685.00 


1787  Nova  Eborac.  Large  Head  variety.  Ex¬ 
ceedingly  rare.  Probably  no  more  than  two  or 
three  dozen  exist  in  all  grades.  The  present 
piece  has  an  About  Fine  obverse  and  a  Fine 
reverse,  with  some  surface  granularity.  A 
seldom  seen  variety  . 1,495.00 


1787  New  jersey.  Maris-28-L.  Outline  to  shield. 
Sharp  VF-EF.  Smooth,  pleasing  light  brown 
planchet  . 495.00 

1785  Vermont.  Ryder-2.  Sun  peeping  over 
forested  ridge  design.  VERMONTS  RES 
PUBLICA  obverse  legend.  Fine,  some  edge 
bumps  $295;  Fine-Very  Fine.  Late  die  state 
with  break  at  plow.  Exceptionally  smooth  plan¬ 
chet  for  this  early  issue . 495.00 


1786  Vermont.  Ryder-6.  Sun  peeping  over 
forested  ridge  design.  VERMONTENSIUM  RES 
PUBLICA  legend.  One  of  the  earliest  Vermont 
coppers.  Struck  at  Rupert,  Vermont .  995.00 


1 787  Vermont.  Ryder-8.  VERMONTENSIUM.  Sun 
and  forested  ridge  design  as  preceding. 
Reverse  with  rays.  Sharp  and  pleasing  VF-EF. 
Mint-caused  planchet  clip  at  left  edge,  a  very 
unusual  situation  for  an  early  Vermont  piece 
of  this  type.  The  planchet  of  this  specimen  is 
unusually  smooth  and  defect-free  (compare, 
for  example,  the  Richardson  plate  coin  which 
has  obverse  fissures).  Scarcest  of  the  three 
1786  varieties  of  this  type  (R-6,  7,  and  8).  A 
find  for  the  specialist . 975.00 


1786  Baby  Head  variety.  Ryder-9.  The  obverse  of 
this  issue  portrays  the  head  of  an  infant, 
although  probably  the  engraver  did  not  intend 


it  this  way.  R-9  is  known  for  its  generally  low 
state  of  preservation,  and  most  pieces  have 
severe  problems.  The  Richardson  plate  com 
certainly  is  one  of  the  finest  known  examples, 
but  it  has  a  major  planchet  clip,  most  of  the 
reverse  legend  cannot  be  read,  and  there  are 
some  dents  or  grooves  in  the  upper  left 
quadrant  of  the  reverse. 

Fine,  with  unusually  smooth  surfaces,  tiny 
planchet  chip,  as  made  at  lower  left  of  the 
obverse.  Excellent  details.  $995;  Fine,  slightly 
sharper  than  the  preceding,  several  planchet 
fissures  (due  to  poor  rolling  of  the  copper  strip) 
$1 ,275;  Very  Fine-Extremely  Fine.  A  full  strike 
with  all  inscriptions  and  the  date  bold.  A  plan¬ 
chet  flaw  on  the  top  of  the  reverse  and  a  minor 
fissure  or  two  on  the  obverse  are  mentioned 
for  accuracy.  One  of  the  finest  known  ex¬ 
amples  of  this  issue,  certainly  among  the  top 
three  to  five  pieces!  A  rare  prize  for  the 
specialist  and  connoisseur! . 2,995.00 


1 786  Vermont  Ryder-1 0.  Mailed  Bust  left.  Fine  to 
Very  Fine.  Some  usual  planchet  roughness,  but 
overall  far  nicer  than  usually  seen.  Scarcer  of 
the  two  1786  varieties  of  this  type.  Virtually 
without  exception  the  R-10  and  R-1 1  issues  are 
struck  on  planchets  made  from  rough,  poor 
copper  with  fissures  and/or  porosity,  and 
evidence  of  the  extreme  difficulties  in  obtain¬ 
ing  copper  supplies.  The  Richardson  plate 
coins  for  R-10  and  R-1 1  both  show  problems. 
The  present  coin  is  very  pleasing  and  is  one 
of  the  nicest  to  come  on  the  market  in  recent 
times . 895.00 


1786  Vermont.  Mailed  Bust  left.  Second  variety 

of  this  year.  Ryder- 1 1 .  Portrait  of  King  George 
II  as  preceding.  Fine  to  Very  Fine.  With  plan¬ 
chet  flaw  on  the  obverse  portrait.  Peripheral 
inscription  is  exceedingly  bold,  not  exceed¬ 
ed  in  sharpness  by  any  other  specimen  of  R-1 1 
seen!  $495;  VF,  nicer  than  the  preceding.  Plan¬ 
chet  flaws  minimal.  Some  green  verdigris  at 
the  center  of  the  reverse.  One  of  the  very  finest 
known  specimens  of  this  issue.  A  prize  for  the 
specialist . 995.00 

1787  Vermont.  Ryder-13.  The  famous  BRITAN¬ 

NIA  variety.  A  curious  variety  made  by  com¬ 
bining  a  Vermont  obverse  die  with  the 
deliberately-worn  (appearing)  reverse  of  an  im¬ 
itation  British  halfpenny.  VF  (grading  by 
obverse  only)  $285;  EF  . 395.00 

1 788  Vermont.  Mailed  Bust  right.  Ryder- 1 6.  Very 

Fine.  Tiny  mark  on  obverse  $245;  Very  Fine, 
double  struck  with  portions  of  the  reverse 
legend  appearing  in  relief  on  the  shield  of  the 
seated  figure  $595;  VF-EF  . 595.00 

1788  Vermont.  Mailed  Bust  right  Ryder-24.  Very 
Fine  or  better.  Some  minor  edge  marks.  As 
always,  your  complete  satisfaction  is 
guaranteed!  $395;  VF-EF . 595.00 


—  34  — 


EAGLE  CONTEST 


New  York  Threatre  Token 


In  this  issue  of  the  Rare  Coin  Review 
we've  come  up  with  a  photo  quiz  that 
we  think  you'll  find  interesting. ..and 
profitable! 

The  eagle  has  been  our  national  sym¬ 
bol  since  the  early  beginnings  of 
American  coinage.  We've  selected  nine 
examples  of  eagles  on  American  coins 
and  illustrated  them  on  the  cover  of  this 
issue.  To  make  it  a  bit  easier  for  you,  we 
are  using  a  multiple  choice  format.  Send 
us  your  answers  to  the  quiz  using  a 
postcard  (or  a  separate  piece  of  paper 
with  your  order)  marked  EAGLE  QUIZ. 
If  you  get  all  nine  answers  right,  we'll 
send  you  a  gift  certificate  for  $10  toward 
any  book  purchase  of  the  titles  we 
stock,  good  with  any  book  purchase 
totaling  $30  or  more! 

Then  to  make  it  even  more  in¬ 
teresting,  we  will  have  a  drawing  from 
all  of  the  correct  responses  and  select 
a  "grand  prize"  winner  who  will 
receive  a  gift  certificate  for  any  of  our 
book  titles  worth  $200!  This  drawing 
will  be  held  around  March  20,  1985. 

Sound  like  fun?  Send  us  your  answers 
today! 

Coin  Quiz 

Bowers  and  Merena  Galleries,  Inc. 
Box  1224 

Wolfeboro,  NH  03894 

Here  are  the  multiple  choice  questions  for  the 
coin  quiz  from  the  front  cover.  Good  Luck! 

A.  Seated  25c 

1  .  B.  Trade  Dollar 

C.  Barber  Half 

A.  Liberty  Head  $2'/i 

2  .  B.  Barber  Quarter 

C.  Kennedy  Half 

A.  Liberty  Head  $20 

3  .  B.  Seated  Dollar 

C.  Twenty  cent  piece 

A.  Liberty  Walking  50c 

4  .  B.  Classic  Head  $5 

C.  Bust  25c 

A.  Peace  Dollar 

5  .  B.  Trade  Dollar 

C.  Morgan  Dollar 

A.  Barber  25c 

6  .  B.  Washington  25c 

C.  $4  Cold  Piece 

A.  Seated  Liberty  25c 

7  .  B.  Standing  Liberty  25c 

C.  Peace  Dollar 

A.  Capped  Bust  $5 

8  .  B.  High  relief  $20 

C.  Liberty  Head  $10 


1788  Vermont  Mailed  Bust  right.  Ryder-27.  Very 

Fine  $495;  Very  Fine  to  Extremely  Fine,  in¬ 
teresting  double  strike,  with  the  double  struck 
lettering  especially  prominent  at  the  left  border 
of  both  the  obverse  and  reverse.  A  very 
unusual  item! . 695.00 

1789  Mott  token.  Thin  planchet.  VF-EF,  nice 

planchet  . 495.00 

(1792)  Kentucky  token.  Rare  variety  with  edge 
lettered:  PAYABLE  IN  LANCASTER  LONDON 
OR  BRISTOL.  Superb  glossy  brown  Uncir¬ 
culated,  a  spectacular  example!  .  .1,295.00 


1794  Talbot,  Allum  &  Lee  cent.  Choice  Uncir¬ 

culated.  Red  and  brown  surfaces.  Variety  with 
NEW  YORK.  In  this  condition,  the  1794  issue 
is  at  least  five  to  ten  times  rarer  than  the  issue 
dated  1 795,  although  catalogue  values  do  not 
reflect  this! . 1,495.00 

1795  Talbot,  Allum  &  Lee  cent.  Choice  Uncir¬ 

culated.  Lustrous  glossy  brown  surfaces  with 
tinges  of  original  mint  red.  A  superb  specimen 
of  one  of  the  most  popular  tokens  from  this 
era  .  1 ,295.00 


1796  Myddleton  Silver  Token 


1796  Myddleton  token  in  silver.  Choice  Proof. 

Attractively  toned  over  a  long  period  of  years, 
this  specimen  is  of  a  design  which  is 
designated  by  both  Crosby  and  the  Guide 
Book  as  being  “unsurpassed  in  beauty  and 
design  by  any  piece  of  this  period."  It  is  the 
work  of  engraver  Conrad  Kuchler.  On  the 
obverse  is  an  allegorical  scene  of  a  mother  and 
two  children,  from  England,  with  an  anchor 
in  the  background  (evidence  of  their  travel  by 
sea),  the  pair  being  received  by  the  goddess 
America,  behind  whoc  is  a  cornucopia 
representing  the  land  of  plenty.  On  the  reverse 
the  traditional  figure  of  England,  Britannia 
seated,  is  shown  with  her  head  downcast  in 
sorrow  from  having  lost  her  citizens.  An  attrac¬ 
tive  and  wonderful  specimen  of  this  elegant 
issue . 6,995.00 


New  York  Theatre  token.  Choice  Proof.  With  red 
and  brown  surfaces.  The  wonderful  piece  from 
our  Dodson-Collier  Sale.  A  splendid  specimen 
with  red  and  brown  surfaces.  An  outstanding 
example  of  oneofthe  most  desired  ofthe  18th 
century  tokens  relating  to  America.  We  have 
never  seen  a  finer  one . 5,950.0f 


1820  North  West  Company  token.  Brass,  holed 
at  the  top  for  suspension,  as  are  all  we  have 
seen.  Very  Good  $795;  Fine . 995.00 


1791  Washington  small  eagle  cent.  An  attractive 
Uncirculated,  prooflike  issue.  A  superb 
specimen  of  this  popular  issue.  Considered  by 
some  to  have  been  a  proposal  for  national 
contract  coinage . 1,250.00 


(1795)  Washington  Liberty  and  Security  penny. 
Uncirculated,  red  and  brown.  Sharply  struck 
and  very  beautiful.  This  specimen  is  from  the 
Matthew  A.  Stickney  Collection  and  is  il¬ 
lustrated  in  the  Chapman  catalogue  of  the 
event.  A  superb  specimen  of  one  ofthe  largest 
and  most  impressive  of  all  Washington  pieces 
of  this  era  . 2,495.00 

1795  Washington.  Grate  Cent  or  token.  Uncir¬ 
culated,  prooflike.  Rich  brown  surfaces.  Varie¬ 
ty  with  large  buttons  on  toga . 695.00 


A.  Classic  Head  $5 
9  .  B.  Liberty  Head  $5 

C.  Capped  bust  half  dime 


Washington  SUCCESS  TO  THE  UNITED  STATES 
token.  Small  size.  Reeded  edge.  Baker-2b~ 
Lustrous  AU.  Very  scarce  995.00 


-35- 


The  More  Books  You  Read , 
The  More  Money  You  Will  Make 


The  above  headline  is  rather  blunt, 
but  it  states  the  truth.  In  coins,  the 
greatest  financial  rewards  go  to  those 
who  know  the  most.  And,  there  is  no 
better  way  to  gain  knowledge  than  by 
reading  books.  If  you  are  interested  in 
coins  as  an  investment,  reading  up  on 
the  subject  will  give  you  a  head  start 
toward  success.  If  you  are  in  coins  strict¬ 
ly  as  a  collector,  or  as  a  combination 
collector  and  investor  (a  popular  at¬ 
titude  with  which  we  agree),  then  there 
is  no  doubt  that  knowledge  will  enable 
you  to  make  better  buys,  to  get  more 
coins  for  your  money,  to  more  enjoy  the 
hobby. 

Sandi  Scott,  manager  of  our  Publica¬ 
tions  Department,  has  on  hand 
thousands  of  books  just  waiting  for  your 
order!  Sandi  is  a  very  cheery  individual, 
and  here  at  Bowers  and  Merena 
Galleries  she  is  certainly  one  of  the 
busiest  people  on  our  staff.  She  is  all  set 
to  ship  you  anything  you  want  from  the 
many  items  offered.  For  instant  service 
call  her  at  (603)  569-5095  and  charge 
your  order  to  MasterCard,  VISA,  or 
American  Express. 

How  can  something  be  successful 
when  it  doesn't  even  exist?  This  is  a 
good  question!  However,  very  suc¬ 
cessful  is  a  new  book  by  Q.  David 
Bowers:  United  States  Three-Cent  and 
Five-Cent  Coins:  An  Action  Guide  for 
the  Collector  and  Investor.  This  book, 
which  is  nearly  completed,  will  be 
ready  for  shipment  within  the  next 
month  or  so.  Already  we  have  received 
enough  orders  to  guarantee  that  it  will 
be  one  of  the  most  popular  titles  we 
have  ever  published!  This  profusely  il¬ 
lustrated  soft-bound  book  sells  for  just 
$9.95.  Order  it  as  Stock  No.  BB-103. 
Send  your  order  now,  and  as  soon  as 
the  first  copies  arrive  here,  yours  will  be 
sent  immediately. 

WE'LL  PAY  YOU  $5  TO  CALL  SANDI 
SCOTT!  We're  not  kidding:  if  you 
telephone  Sandi  Scott  to  order  any 
books  for  $25  or  more  total  value  from 
this  issue  of  the  Rare  Coin  Review,  and 
if  you  charge  the  order  to  your  Master- 
Card,  VISA,  or  American  Express  card 
for  instant  shipment,  when  Sandi  totals 


up  the  order— even  if  you  are  going  to 
take  another  discount  (about  which 
read  in  the  next  paragraph)— she  will 
then  deduct  an  additional  $5  to  pay  you 
for  your  telephone  call  and  as  a  "thank 
you"  for  calling!  There  is  a  catch,  a 
small  one:  you  must  say  "I  would  like 
the  telephone  discount"  when  you 
place  your  order,  otherwise  you  will  not 
get  the  $5.  This  and  our  Special  Dis¬ 
count  Offer  (see  next  paragraph)  both 
are  scheduled  to  expire  on  March  31, 
1985. 

SPECIAL  DISCOUNT  OFFER:  With 
any  book  order  of  $100  or  more  from 
this  Rare  Coin  Review  issue  take  a  10% 
discount,  or  take  a  20%  discount  on  an 
order  of  $200  or  more!  It  has  been  our 
intention  to  discontinue  this  offer,  but 
it  seems  to  be  so  popular  with  our 


readers  that  we  will  "hold  it  over,"  as 
they  say  in  the  theater  business,  for  one 
more  "showing."  The  very  best  way  to 
take  advantage  of  this— and  to  gain 
knowledge  and  to  have  a  lot  of  fun  at 
the  same  time— is  to  check  the  follow¬ 
ing  listing  carefully  and  come  up  with 
at  least  $200  worth  of  books— in  the 
meantime  building  what  will  probably 
amount  to  a  very  nice  numismatic 
library. 

Books:  your  best  numismatic  invest¬ 
ment.  Bowers  and  Merena  Galleries, 
Inc.:  your  best  source  for  numismatic 
books. 

Note:  If  you  order  coins  and  books  at  the  same 
time,  the  books  will  be  sent  under  separate  cover 
from  your  coin  order.  Books  are  sent  "Special  Book 
Rate"  through  the  United  States  Post  Office.  Please 
allow  several  weeks  for  your  order  to  arrive. 


Books  Published  by 
Bowers  and  Merena  Galleries,  Inc.: 


The  following  books,  most  of  which  were  writ¬ 
ten  by  Q.  David  Bowers,  are  either  published  or 
distributed  primarily  by  Bowers  and  Merena 
Galleries,  Inc.  Naturally,  we  especially  recom¬ 
mend  these! 

Private  Gold  Coinage  of  California  1849-1855, 
Its  History  and  Its  Issues,  Quality  reprint  of  Edgar 
H.  Adams'  classic  work  on  the  series  originally 
from  the  American  Journal  of  Numismatics. 
Stackpole  reprint  with  new  introduction  by  Q. 
David  Bowers.  As  we  go  to  press  we  have  just  a 
few  copies  remaining— once  they  are  sold  this  is 
it!  110  pages,  illustrated,  hardbound.  (Stock  No. 
BA-6)  $25.00 


High  Profits 
from 

Rare  Coin 
Investment 


Q.  David  Bowers 


High  Profits  From  Rare  Coin  Investment,  by 

Q.  David  Bowers.  The  vastly  expanded  9th  edi¬ 
tion  of  the  best  selling  book  ever  written  on  the 
subject  of  coin  investment.  An  absolute  must  for 
your  library,  and  interesting  reading  as  well!  The 
author  draws  on  over  30  years  of  experience  as 
one  of  America's  leading  rare  coin  dealers  and 
shares  his  insider's  insights  with  you.  How  to  buy 
and  sell  coins,  building  a  coin  portfolio,  gold,  silver 
dollars,  commemoratives,  market  cycles— these 
and  many  other  subjects  are  discussed  304  pp  , 
illustrated,  softbound.  (Stock  No.  BB-1)  $14.95 


-36- 


Adventures  JJSs. 

With  •  Inweslment 

RARE  COINS  ® 


Adventures  with  Rare  Coins,  by  Q.  David 
Bowers.  A  "fun”  book  about  history,  art, 
romance,  and  investment.  The  Gold  Rush,  the 
Great  Treasury  Release  of  Morgan  silver  dollars 
in  1 962,  the  coin  market  over  the  years,  nostalgia, 
old-time  pictures,  and  other  subjects  are  presented 
in  an  interesting  manner.  Winner  of  several  book 
awards!  305  pp.,  illustrated,  hardbound.  (Stock 
No.  BB-2)  $19.95 


The  History  of  U.S.  Coinage,  by  Q.  David 
Bowers.  Illustrated  by  the  Garrett  Collection  coins, 
this  immense  volume  is  virtually  a  university 
course  in  American  numismatics  and  covers  in 
depth  all  series  from  colonials  to  regular  copper, 
nickel,  silver,  and  gold  issues,  to  territorials  and 
patterns.  Used  as  a  textbook  for  the  employees 
of  several  large  rare  coin  firms.  Published  for  The 
Johns  Hopkins  University.  One  of  just  two  to  win 
the  two  highest  numismatic  awards  in  the  same 
year:  The  Robert  Friedberg  Award  given  by  the 
Professional  Numismatists  Guild  and  the  Book  of 
the  Year  Award  given  by  the  Numismatic  Literary 
Guild!  Fascinating  reading!  Nearly  10,000  copies 
sold.  572  pp.,  illustrated  hardbound.  (Stock  No. 
BB-3)  $39.00 


U.S.  Gold  Coins:  An  Illustrated  History,  by  Q. 

David  Bowers.  All  about  American  gold  coins, 
how  they  were  minted,  why  certain  issues  are 
rare,  how,  why  and  by  whom  they  have  been  col¬ 
lected  over  the  years,  stories  of  rarities,  etc.  Il¬ 
lustrated  by  pieces  from  the  fabulous  Louis 
Eliasberg  Collection  (which  our  firm  sold  at  auc¬ 
tion  for  $12.4  million  in  1982).  415  pp.,  illustrated, 
hardbound.  (Stock  No.  BB-4)  $37.00 


ncpclopebia 


of  Hutomatir 


.flOusical  3ustrumfnts 


C  PjM  gum rn 


The  Encyclopedia  of  Automatic  Musical  In¬ 
struments,  by  Q.  David  Bowers.  Not  about  coins, 
but  there  is  certainly  plenty  of  information  about 
coin-in-the-slot  old-time  nickelodeon  pianos  with 
art  glass  fronts,  music  boxes,  calliopes,  player 
pianos,  and  the  like.  The  standard  reference  in 
the  field.  Over  15,000  copies  sold!  1,008  pp.,  il¬ 
lustrated,  hardbound.  (Stock  No.  BB-5)  $45.00 


$2.50 


Common  Sense 

COIN 

INVESTMENT 


By  Q.  David 

A  revealing  look  at  profitable 
coin  investment  opportunities. 


Bovvers 


iSsSlPf 


Common  Sense  Coin  Investment,  by  Q.  David 
Bowers.  A  compact  volume  issued  by  Whitman, 
publishers  of  the  famous  Guide  Book.  Outlines  the 
factors  which  have  spelled  success  in  the  field  of 
coin  investment  in  the  past.  At  this  inexpensive 
price  you  cannot  afford  to  be  without  one!  192 
pp.,  illustrated,  softbound.  (Stock  No.  BB-6)  $2.50 

Virgil  Brand:  The  Man  and  His  Era,  Profile  of 
a  Numismatist,  by  Q.  David  Bowers.  Details  the 
fascinating  and  almost  unbelievable  life  of  Virgil 
Brand  (1862-1926)  and  how  he  became  known 
as  "the  world's  greatest  coin  collector,"  owning 
over  350,000  coins,  including  duplicates  of 
rarities,  by  the  time  he  died.  The  story  of  Virgil 
Brand  encompasses  Thomas  Elder,  Henry  Chap¬ 
man,  B.  Max  Mehl,  the  American  Numismatic 
Society,  and  hundreds  of  other  individuals,  institu¬ 
tions,  and  publications  of  the  nineteenth  and  early 
twentieth  centuries.  A  numismatic  "tour"  of  the 
past!  Widely  acclaimed.  You  will  find  it  to  be 
delightful  reading!  Winner  of  the  Robert  Friedberg 
and  Book  of  the  Year  award!  248  pp.,  illustrated, 
hardbound.  (Stock  No.  BB-7)  $29.00 


Virgil  Brand  Poster.  Large  and  colorful  poster 
printed  on  museum-quality  stock  featuring  gems 
from  the  Virgil  Brand  coin  collection.  Ideal  for 
framing  or  display!  Issued  by  Bowers  and  Merena 
Galleries.  Measures  21  inches  wide  by  32  inches 
high.  (Stock  No.  BB-12)  $10.00 


Bowers  &  Ruddy  Galleries 

The 

Garrett 

Collection 

Sales 


FOR 

THE  JOHNS  HOPKINS  UNIVERSITY 
SALE 3  PUBLIC  AUCTION 
OCTOBER  1-2,  1  9  S  0 


Garrett  Collection  Auction  Catalogues.  A  com¬ 
plete  set  of  four  softbound  auction  catalogues 
issued  by  us  1979-1981  for  The  Johns  Hopkins 
University.  Features  the  1804  silver  dollar,  three 
Brasher  doubloons  (one  which  brought  $725,000, 
the  highest  price  ever  recorded  for  any  coin  ever 
sold  at  auction),  colonial  coins,  U.S.  regular  issues, 
and  other  items— which  crossed  the  auction  block 
for  $25  million,  the  most  valuable  coin  collection 
ever  sold.  Set  of  four  publications,  illustrated,  soft- 
bound.  (Stock  No.  BB-13)  $35.00 


Connecticut  Historical  Society  and  M.  Vernon 
Sheldon  Collections  auction  catalogue  by  Bowers 
and  Merena  Galleries,  1983.  Includes  prices  real¬ 
ized  list.  (Stock  No.  BB-15)  $12.00 


SINCE  1953 

Since  1953  we  have  been  keeping  a  lot  of  col¬ 
lectors  happy.  And,  we  are  pleased  that  many 
people  who  were  buying  from  us  back  then— and 
this  is  more  than  30  years  in  the  past-  are  still  buy¬ 
ing  from  us  today.  Bowers  and  Merena  Galleries 
offers  you  the  right  coins  in  the  right  grade  for 
prices  you  will  find  to  be  "right'  if  you  compare 
them  to  actual  offerings  elsewhere.  Let  us  help 
you  form  a  prizewinning  collection! 


-37- 


Standard  Guide  to  South  Asian  Coins  &  Paper 
Mone>,  by  Bruce  Deyell,  and  Rhodes.  608  pp., 
illustrated  hardbound  (Stock  No.  BB-1 1)  $42.50 


George  D.  Hatie  Collection  auction  catalogue 
by  Bowers  and  Merena  Galleries,  1983.  Includes 
prices  realized.  (Stock  No.  BB-16)  $12.00 


The  Marcus  J.  brown  bstate 


Marcus  ).  Brown  Estate  Collection  auction 
catalogue  by  Bowers  and  Merena  Galleries.  In¬ 
cludes  prices  realized.  (Stock  No.  BB-17)  $12.00 

Virgil  M.  Brand  Collection,  Part  I,  auction 
catalogue  by  Bowers  and  Merena  Galleries,  1983. 
Softbound.  Includes  prices  realized  list.  (Stock  No. 
BB-18)  $20.00 


The  f  oiler  fions  of  Arthur  Sipe  and  Everett  W. 


Ness  auction  catalogue,  by  Auctions  by  Bowers 
and  Merena,  Inc.,  1984.  Includes  prices  realized. 

(Stock  No.  BB-19)  $12.00 


The  Collections  of  Rudy  Sieck  and  Roy  Harte 

auction  catalogue,  by  Auctions  by  Bowers  and 
Merena,  Inc.,  1984.  Includes  prices  realized. 

(Stock  No.  BB-20)  $12.00 

Virgil  Brand  Collection,  Part  II,  auction 
catalogue,  by  Auctions  by  Bowers  and  Merena, 
Inc.,  1984.  Softbound.  Includes  prices  realized. 

(Stock  No.  BB-21)  $20.00 

The  Collections  of  Admiral  Oscar  H.  Dodson 
and  Richard  L.  Collier  auction  catalogue,  by  Auc¬ 
tions  by  Bowers  and  Merena,  Inc.,  1984.  Includes 
prices  realized.  (Stock  No.  BB-22)  $12.00 


The 

DANNY  ARNOLD  and  ROMISA 

Collections 


Auctions  by  Bowers  and  Merena.  Inc 

l\N><  Aurfmn  Sai.-  S I'  I*  /««W 


The  Danny  Arnold  and  Romisa  Collections 

auction  catalogue,  by  Auctions  by  Bowers  and 
Merena,  Inc.,  September  1984.  336-page  offering 
of  one  of  the  most  spectacular  sales  of  our  time, 
with  a  realization  of  over  $5,000,000!  Includes 
prices  realized.  (Stock  No.  BB-23)  $20.00 


SUBSCRIBE! 

To  be  sure  that  you  receive  each  issue  of  the 
Rare  Coin  Review  as  it  is  produced,  plus  the  auc¬ 
tion  catalogues  issued  by  Auctions  by  Bowers  and 
Merena,  Inc.,  send  us  your  subscription  today. 
Our  low  subscription  rate  probably  represents  the 
best  investment  in  knowledge  you  can  find. 


EMERY  jnd  NIC  HOIS  toll  EC  LIONS 


Am  lion*  bv  Bo ;.  «•>  uni  M< 


The  Emery  and  Nichols  Collections  auction 
catalogue,  by  Auctions  by  Bowers  and  Merena, 
Inc.,  November  1984.  A  magnificent  offering  of 
an  old-time  estate,  including  many  rarities.  These 
pieces  were  hidden  away  for  many  decades 
before  they  crossed  the  auction  block.  Primarily 
U.S.,  colonials,  patterns  and  paper  money.  In¬ 
cludes  prices  realized.  (Stock  No.  BB-24)  $12.00 


The  Lee  F.  Hewitt  Collection  and  other  proper¬ 
ties.  Auction  catalogue,  by  Auctions  by  Bowers 
and  Merena,  Inc.,  November  1984.  Features  U.S. 
coins,  patterns,  paper  money  from  Lee  F.  Hewitt 
and  other  consignors.  Includes  prices  realized. 
(Stock  No.  BB-25)  $12.00 

BRAND  NEW!!!  An  inside  view  of  the  coin 
hobby  in  the  1930s:  The  Walter  P.  Nichols  File 

is  the  title  of  a  large-format  illustrated,  144-page 
book  edited  by  Q.  David  Bowers.  Nichols,  a 
member  of  the  American  Numismatic  Association 
Board  of  Governors,  the  distributor  of  the  York 
County  (Maine)  commemorative  half  dollar,  and 
a  coin  dealer  during  the  1930s,  kept  cor¬ 
respondence  with  Mehl,  Chapman,  Bolender, 
Shultz,  Stack,  Kosoff,  Boyd,  and  other  per¬ 
sonalities  of  his  day.  Now,  published  letters  from 
this  file  reveal  a  wealth  of  fascinating  information 
about  how  the  coin  hobby  and  business  was  con¬ 
ducted  during  these  formative  years.  Scandals  and 
controversies,  hopes  and  dreams,  successes  and 
failures  are  all  related  in  fascinating  detail. 

The  reader  will  go  "behind  the  scenes"  and 
learn  of  the  scandals  and  lawsuits  that  arose  from 
the  distribution  of  the  1936  Rhode  Island  half 
dollars,  what  L.W.  Hoffecker  (who  at  the  time  was 
president  of  the  ANA  and  who  was  a  distributor 
of  several  commemorative  issues)  thought  of 


38— 


others  in  the  hobby,  what  leading  currency  ex¬ 
pert,  Albert  A.  Crinnell  had  to  say  about 
'washing”  currency,  about  other  collectors  and 
dealers,  and  the  hobby  in  general  (excerpts  were 
selected  from  well  over  100  lengthy  letters  from 
Crinnell!).  Correspondence  with  the  Treasury 
Department  reveals,  for  example,  that  Uncir¬ 
culated  fractional  currency  notes  could  be  ob¬ 
tained  at  face  value  as  late  as  1931— a  fact  which 
will  startle  present-day  researchers  who  scarcely 
dreamed  of  such  a  thing!  The  Depression  of  the 
1930s  and  its  effect  upon  banks,  the  coin  market, 
and  the  like  is  covered,  as  are  other  topics  from 
Lincoln  cent  rarities  to  $4  Stellas  and  Panama- 
Pacific  sets. 

Too  often,  historical  accounts  of  the  coin  hob¬ 
by  are  devoid  of  personal  aspects.  Not  so  with 
the  present  volume,  which  at  some  points  is  so 
personal  as  to  almost  be  embarrassing!  All  of  this 
adds  up  to  some  mighty  fine  reading!  (Stock  No. 
BB-70)  $14.95 


United  States  Copper  Coins 


An  Action  Guide  for  the 
Collector  and  Investor 


United  States  Copper  Coins:  An  Action  Guide 
for  the  Collector  and  Investor,  by  Q.  David 
Bowers.  This  new  book  draws  upon  Dave  Bowers' 
extensive  experience  spanning  many  years.  Half 
cents,  large  cents,  flying  eagle  cents,  Indian  cents, 
Lincoln  cents,  and  two-cent  pieces  are  discussed 
in  detail.  All  major  types  are  illustrated,  as  are 
numerous  varieties.  Why  is  it  rare?  Why  is  it  priced 
as  such?  Which  issues  are  sleepers?  How  have 
such  pieces  been  collected  over  the  years?  These 
and  many  other  tips  of  value  to  the  specialist  and 
type  collectoralike  are  presented  in  this  valuable 
reference  book.  We  know  you'll  be  delighted  with 
it!  176  pages,  profusely  illustrated,  softbound. 
(Stock  No.  BB-102)  $9.95 

United  States  Three-Cent  and  Five-Cent  coins: 
An  Action  Guide  for  the  Collector  and  Investor, 

by  Q.  David  Bowers.  This  is  an  advance  an¬ 
nouncement  of  a  book  scheduled  to  be  released 
within  the  next  month  or  so.  Order  now,  and  your 
copy  will  be  shipped  "hot  off  the  press"  as  soon 
as  it  is  ready!  Although  the  specifications  of  the 
book  are  not  available  as  this  is  being  written,  it 
will  approximate  in  size  and  format  the  compan¬ 
ion  volume  United  States  Copper  Coins:  An  Ac¬ 
tion  Guide  for  the  Collector  and  Investor  (see 
description  for  BB-102).  Major  types  and  varieties 
will  be  illustrated,  stories  of  interesting  coins  (such 
as  the  1913  Liberty  nickel)  will  be  recounted,  there 
will  be  lots  of  fascinating  photographs,  and  infor¬ 
mation  concerning  sleepers  and  other  desiderata 
should  be  of  interest  to  all.  We  know  you'll  be 


delighted!  Profusely  illustrated,  softbound.  (Stock 
No.  BB-103)  $9.95 

U.S.  Patterns,  by  Dr.  J.  Hewitt  Judd  and  Abe 
Kosoff.  Descriptions  of  different  pattern  coins  from 
1793  through  the  early  twentieth  century,  in¬ 
cluding  the  1856  flying  eagle  cent,  the  Gobrecht 
silver  dollars,  the  1879  and  1889  $4  Stellas,  and 
many  other  fabulous  pieces.  The  standard 
reference  book  for  this  important  series,  and  cer¬ 
tainly  one  of  the  ten  most  essential  books  for  the 
library  of  anyone  seriously  interested  in 
numismatics.  An  absolute  must.  With  rarity  and 
price  guide.  276  pp.,  illustrated,  hardbound. 
(Stock  No.  BJ-1)  $19.95 


Photograde,  by  James  F.  Ruddy.  Match  your 
coin  to  the  photograph  and,  presto,  it's  graded! 
The  best  selling  grading  guide  ever  published! 
Designated  as  an  official  grading  guide  by  the 
American  Numismatic  Association  in  1972.  Hun¬ 
dreds  of  thousands  of  copies  in  use.  1 1 1  pp.,  il¬ 
lustrated,  softbound.  (Stock  No.  BR-1)  $4.95 

Additional  Books: 

U.S.  Coins 

In  addition  to  the  books  published  by  Bowers 
and  Merena  Galleries  on  the  subject  of  United 
States  coins,  the  following  titles  are  recommend¬ 
ed  as  being  useful  and  interesting.  Many  of  them 
are  classics  in  their  field. 

U.S.  Numismatic  Literature,  Vol.  I,  19th  Cen¬ 
tury  Auction  Catalogs,  by  John  W.  Adams.  A 
survey  of  nineteenth-century  rare  coin  dealers 
(with  biographical  sketches  and  portraits)  and  the 
auctions  they  conducted.  Cogan,  the  Chapmans, 
Woodward,  Mason,  Scott,  Frossard,  and  others 
are  featured  and  rated  by  one  of  America's 
foremost  numismatic  scholars.  A  must  item  for  the 
reader  interested  in  numismatic  history  and 
literature!  Expensive,  but  worth  it!  Limited 
numbered  edition  of  500  copies.  271  pp.  Il¬ 
lustrated,  hardbound.  (Stock  No.  BA-1)  $85.00 

Gold  Coin  Library,  by  David  W.  Akers.  A  com¬ 
plete  set  of  six  volumes  covering  gold  $1,  $ 2 V2 , 
$3,  $5,  $10,  and  $20.  Each  date  and  mintmark 
variety  is  illustrated  and  given  a  full  page!  Frequen¬ 
cy  of  auction  appearances  in  various  grades  over 
the  years,  striking,  appearance,  rarity,  etc.  are 
detailed.  Another  absolutely  essential  group  of 
books  for  the  serious  numismatist!  Read  these  and 
you  will  be  an  expert!  We  offer  individual  books 

-39- 


as  indicated. 

The  following  individual  items  are  offered,  plus 
the  set  as  noted: 

U.S.  Gold  Coins,  Gold  Dollars  1849-1889,  by 

David  W.  Akers.  Illustrated.  Hardbound.  (Stock 
No.  BA-2A)  $7.95 

U.S.  Gold  Coins,  Quarter  Eagles  1796-1929, 

by  David  W.  Akers.  Illustrated.  Hardbound.  (Stock 
No.  BA-2B)  $19.95 

U.S.  Gold  Coins,  $3  and  $4  Gold  Pieces,  by 

David  W.  Akers.  Hardbound.  (Stock  No.  BA-2C) 
$12.50 

U.S.  Gold  Coins,  Half  Eagles,  1795-1929,  by 

David  W.  Akers.  Hardbound.  (Stock  No.  BA-2D) 
$35.00 

U.S.  Gold  Coins,  Eagles,  1795-1933,  by  David 
W.  Akers.  Hardbound.  (Stock  No.  BA-2E)  $35.00 

U.S.  Gold  Coins,  Double  Eagles,  1849-1933, 

by  David  W.  Akers.  Hardbound.  (Stock  No. 
BA-2F)  $35.00 

Gold  Coin  Library  Offer.  One  each  of  the 
preceding  six  volumes,  total  list  price  $155.40,  of¬ 
fered  as  a  set.  (Stock  No.  BA-2)  $140.00 


A  Bibliography  of  American  Numismatic  Auc¬ 
tion  Catalogues,  1828-1875,  by  E.J.  Attinelli. 
Reprint  of  the  nineteenth-century  classic  detail¬ 
ing  early  auction  catalogues  and  numismatic  ac¬ 
tivity  in  the  cradle  days  of  coin  collecting  in 
America.  160  pp.,  hardbound  (Stock  No.  BA-3) 
$25.00 

Monographs  on  Varieties  of  U.S.  Large  Cents 
1793-1794,  an  anthology  edited  by  John  W. 
Adams.  A  treasure  trove  of  information  concern¬ 
ing  large  cents  of  these  two  dates,  their  romance, 
history,  rarity,  and  just  about  everthing  else  you 
ever  wanted  to  know  but  didn't  know  where  to 
look!  244  pp.,  illustrated,  hardbound.  (Stock  No. 
BA-4)  $35.00 

Edgar  H.  Adams'  Plates  of  Lyman  H.  Low's 
Hard  Times  Tokens,  reprint  of  Edgar  H.  Adams' 
photographic  illustrations  of  the  Hard  Times  token 
series.  38  pp.,  15  plates,  softbound.  (Stock  No. 
BA-5)  $25.00 


American  Numismatic  Association  Counterfeit 
Detection.  This  handy  guide,  published  by  the 
ANA,  gives  tips  on  spotting  counterfeits  and  iden¬ 
tifies  many  different  counterfeit  varieties.  A  best 
seller  and  a  valuable  reference.  147  pp.  illustrated, 
softbound.  (Stock  No.  BA-7)  $7.50 

The  Early  Quarter  Dollars  of  the  U.S.,  by  AAV 

Browning.  Reprint  of  an  early  classic.  Describes 
early  quarter  dollars  by  die  varieties  and  char¬ 
acteristics.  Standard  reference.  44  pp.  illustrated 
hardbound.  (Stock  No.  BB-8)  $12.50 


NUMISMATIC  • 


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New 

PHOTOGRADE 

A  Photographic  grading  Cjtiide 

for  UNITED  STATES  COINS 


By 

JAMES  F.  RUDDY 


Photograde  is  lop  grade!”  -  Coin  YVorta 
A  most  tor  the  library  ot  every  collector"  -  The  townsmens 
Splendid  book:  excellent  grading  guide”  -  toow  York  Times 
“Far  ahead  of  any  other”  Los  Angetes  Times 


WORLD'S  BEST  ALL: 


RAOING  GUIOEI 


./>.  *A 

■A  S 


California  Pioneer  Fractional  Gold,  by  Walter 
Breen  and  Ronald  Gillio.  The  most  comprehen¬ 
sive  volume  on  the  subject  ever  published,  this 
reference  will  tell  you  about  the  history  of  the 
fascinating  quarters,  half  dollars,  and  dollars  struck 
of  yellow  metal  in  the  years  following  the  Gold 
Rush.  With  rarity  ratings,  die  descriptions,  and 
with  some  pricing  information.  160  pp.,  illustrated, 
softbound.  (Stock  No.  BB-9)  $29.50 

U.S.  Early  Silver  Dollars,  by  M.H.  Bolender. 
Reprint  of  a  classic.  Describes  silver  dollars 
1794-1803  and  their  die  characteristics.  91  pp., 
illustrated,  hardbound.  (Stock  No.  BB-10)  $24.50 


Official  ANA  Grading  Standards  for  United 
States  Coins,  by  Ken  Bressett  and  A.  Kosoff,  in¬ 
troduction  by  Q.  David  Bowers.  Delineates  the 
American  Numismatic  Association  system  for 
determining  coin  conditions.  New  softbound  edi¬ 
tion.  (Stock  No.  BB-14)  $5.95 

United  States  Half  Cents  1793-1857,  by  Q. 

David  Bowers  and  James  F.  Ruddy,  to  which  has 
been  added  United  States  Half  Cents  by  Ebenezer 
Gilbert,  to  which  has  been  added  an  article  by 
Doug  Winter,  a  value  guide  and  other  features. 
This  is  a  reprint  of  several  early  half  cent  works. 
91  pp.,  illustrated,  softbound.  (Stock  No.  BB-69) 
$10.00 


Walter  Breen's  Encyclopedia  of  United  States 
Half  Cents  1793-1857,  by  Walter  Breen.  Several 
years  in  the  making,  this  superb  book,  with 
typography  by  Jack  Collins,  contains  over  500 
pages  of  half  cent  lore,  with  at  least  a  full  page 
(often  multiple  pages)  devoted  to  each  date  and 
major  variety  within  the  series.  There  are  enough 
spicy  comments,  editorial  opinions,  and  other  half 
cent  tidbits  to  keep  you  reading  from  the  begin¬ 
ning  through  the  end.  Includes  color  plates.  One 
of  the  most  impressive  specialized  books  on 
United  States  coinage  ever  published!  Hard¬ 
bound  (Stock  No.  BB-71)  $60.00 

The  United  States  Branch  Mint  at  Dahlonega, 

by  C  M.  Birdsall  This  new  book  gives  a  detailed 
history  of  one  of  America's  most  interesting  and 
historic  minting  operations,  with  many  details  con¬ 
cerning  the  $1,  $2’/i,  $3,  and  $5  issues  made 
there  (Stork  No.  BB-72)  $27.50 

The  Early  Coins  of  America,  by  Sylvester  S. 
Crosby  Reprint  of  this  nineteenth-century  classic, 
certainly  one  of  the  greatest  books  ever  published 


bH>  •  «ia>  rf  tarfin 

I  Ml  VlNk  «* 

AUaUTUS  MINT  LAUMNt 

PPT" 

HIP 

.4,, 

in  American  numismatics!  Details  colonial,  state, 
and  early  American  coins,  their  history,  legisla¬ 
tion  pertaining  to  them,  collecting  comments,  etc. 
A  simply  marvelous  book,  and  one  of  our 
favorites!  A  must  for  your  library,  even  if  you  do 
not  collect  early  American  coins!  With  additional 
comments  by  Eric  P.  Newman.  378  pp.,  illustated, 
hardbound.  (Stock  No.  BC-1)  $45.00 

The  Work  of  Augustus  Saint-Gaudens,  by  John 
H.  Dryfhout.  A  superb  volume,  magnificently  il¬ 
lustrated,  covering  the  sculpture,  medals,  coinage, 
and  other  works  of  one  of  America's  most  prom¬ 
inent  artists  (his  studio  was  in  New  Hampshire, 
by  the  way!).  His  magnificent  MCMVII  high-relief 
1907  double  eagle,  is,  of  course,  well  known  to 
our  readers,  but  you  will  delight  in  seeing  his 
many  other  achievements  as  well.  The  author  is 
curator  of  the  Saint-Gaudens  National  Historic 
Site,  Cornish,  New  Hampshire.  356  pp.,  il¬ 
lustrated,  hardbound.  (Stock  No.  BD-1)  $60.00 

Early  American  Coppers,  an  anthology  by  San- 
furd  Durst.  A  collection  of  articles  pertaining  to 
United  States  large  cents,  half  cents,  and  related 
matters.  By  many  authors.  545  pp.,  illustrated, 
hardbound.  (Stock  No.  BD-2)  $45.00 


History  of  the  U.S.  Mint  and  Coinage,  George 
Evans.  Reprint  of  the  nineteenth-century  classic 
guide  to  the  Mint,  how  coins  are  made,  various 
directors  and  officers,  etc.  Another  must  book. 
186  pp.,  illustrated,  hardbound.  (Stock  No.  BE-1) 
$14.95 

New  Premium  Coin  Book,  by  Thomas  L.  Elder. 
Original  (not  a  reprint)  1934  guide  to  coin  values 
issued  by  one  of  America's  most  prominent 
dealers  at  the  time.  98  pp.,  illustrated  (line  draw¬ 
ings),  softbound.  (Stock  No.  BE-2)  $10.00 


l 


The  Denver  Mint 

The  Story  of  thr  Mint 
front 


An  Analysis  of  Gem  Franklin  Half  Dollars,  by 

Jack  A.  Ehrmantraut,  Jr.  A  detailed  discussion  on 
the  various  issues  of  Franklin  half  dollars 
1948-1963,  with  comments  concerning  the 
availability  of  each.  144  pp.,  several  illustrations, 
softbound.  (Stock  No.  BE-3)  $11.95 

Historic  Tours — The  Denver  Mint,  by  David  J. 
Eitemiller.  Well-illustrated  softbound  guide  to  the 
history  of  the  Denver  Mint.  41  pp.  (Stock  No. 
BE-4)  $3.95 


Patriotic  Civil  War  Tokens,  by  George  and 
Melvin  Fuld.  Guide  to  tokens  of  the  1860s  with 
patriotic  and  military  motifs.  80  pp.,  illustrated, 
softbound.  (Stock  No.  BF-2)  $10.00 

U.S.  Civil  War  Store  Cards,  by  George  and 
Melvin  Fuld.  A  wonderfully  detailed  guide  to  cent- 
sized  tokens  issued  by  various  merchants,  profes¬ 
sionals  and  others  to  advertise  their  services  and 
goods  during  the  Civil  War.  Standard  reference 
in  the  field.  615  pp.,  (plus  supplement),  illustrated, 
hardbound.  (Stock  No.  BF-3)  $50.00 

Medals  of  the  United  States  Mint— The  First 
Century  1792-1892,  by  Robert  W.  Julian.  Pub¬ 
lished  by  the  Token  and  Medal  Society,  this  im¬ 
mense  large-format  book  is  a  gold  mine  for 
anyone  interested  in  medals  produced  at  the 
Philadelphia  Mint.  Abundant  information 
concerning  production  quantities,  rarity, 
designers,  and  the  like  makes  interesting  reading 
and  a  valuable  reference.  Highly  recommended! 
Our  own  copy  is  almost  worn  out!  475  pages,  pro¬ 
fusely  illustrated,  hardbound.  (Stock  No.  BJ-2) 
$35.00 


Abe  Kosoff  Remembers,  by  A.  Kosoff.  Reprint 
of  this  old-time  dealer's  reminiscences.  Chock  full 
of  anecdotes  and  stories.  Fascinating  reading.  392 
pp.,  illustrated,  softbound.  (Stock  No.  BK-1) 
$19.50 

Masonic  Chapter  Pennies,  by  E.A.  King.  The 
standard  reference  to  these  large-cent-size  cop¬ 
per  (mainly)  tokens  issued  by  various  chapters  of 
this  fraternal  organization.  Thousands  of  varieties 
described.  360  pp.,  illustrated,  hardbound.  (Stock 
No.  BK-2)  $35.00 

Monographs  on  Varieties  of  U.S.  Large  Cents 
1795-1803,  an  anthology  compiled  by  Denis  Lor- 
ing.  Many  different  articles  on  the  subject  in¬ 
dicated.  Nice  reading!  248  pp.,  illustrated,  hard¬ 
bound.  (Stock  No.  BL-1)  $35.00 

Hard  Times  Tokens,  by  Lyman  Haynes  Low. 
Quality  reprint  of  Low's  classic  1900  work,  to 
which  the  Dunham  Easy  Finding  List  and  two  sets 
of  illustrations  have  been  added.  Contains  abun¬ 
dant  background  information  and  research  notes 
not  available  in  the  Rulau  reference  (which  is  also 
highly  recommended— to  which  refer).  One  of  the 
all  time  ''great  books''  in  numismatics.  1 1 1  pages, 
illustrated,  hardbound.  (Stock  No.  BL-2)  $18.00 


USE  THE  TELEPHONE! 

See  something  interesting?  Call  Tom  Becker  at 
(603)  569-5095  and  he  will  reserve  your  order  for 
you.  Or,  you  can  charge  it  to  your  MasterCard, 
Visa,  or  American  Express  card  for  instant  ship¬ 
ment.  Tom  is  waiting  at  the  other  end  of  the  line 
and  looks  forward  to  hearing  from  you! 


-40- 


THE 

COINAGE 

OF 

WILLIAM 

WOOD 

i7J2-tns 


The  Morgan  and  Peace  Dollar  Textbook,  by 

Wayne  Miller.  A  delightful  book  on  silver  dollars, 
and  probably  the  most  useful  guide  you  will  ever 
find  on  the  subject!  Each  variety  has  its  own 
description  with  characteristics.  261  pp.,  il¬ 
lustrated  (in  color),  hardbound.  (Stock  No.  BM-1) 
$25.00 

The  Coinage  of  William  Wood  1722-1733,  by 

Philip  Nelson.  Reprint.  Describes  Hibernia  and 
Rosa  Americana  issues.  44  pp.,  illustrated,  soft- 
bound.  (Stock  No.  BN-1)  $7.50 


The  Silver  Coinage  of  Massachusetts,  by 

Sydney  P.  Noe.  The  standard  reference  describ¬ 
ing  NE,  Willow  Trfce,  Oak  Tree,  and  Pine  Tree 
issues  dated  1652.  A  treasure  trove  of  information. 
256  pp.,  illustrated,  hardbound.  (Stock  No.  BN-2) 
$35.00 

United  States  Copper  Cents  1816-1857,  by 

Howard  R.  Newcomb.  Reprint.  The  standard 
reference  book  on  die  varieties  of  coppers  of  this 
period.  312  pp.,  illustrated,  hardbound.  (Stock 
No.  BN-3)  $45.00 


U.S.  Trade  Tokens,  1866-1889,  by  Russell 
Rulau.  A  masterful  catalogue  of  these  absorbing 
issues!  With  rarity  and  price  information.  244  pp., 
illustrated,  softbound.  (Stock  No.  BR-2)  $12.95 


U.S.  Merchants'  Tokens  1845-1860,  by  Russell 
Rulau.  Another  standard  reference.  Delightful 
reading.  128  pp.,  illustrated,  softbound.  (Stock 


Hard  Times  Tokens,  by  Russell  Rulau.  Covers 
Hard  Times  Tokens  of  the  1833-1844  era,  a  revi¬ 
sion  of  the  classic  Lyman  H.  Low  reference,  with 
many  new  additions.  58  pp.,  illustrated,  soft- 
bound.  (Stock  No.  BR-4)  $4.95 

Early  American  Tokens  (pre-1844),  by  Russell 
Rulau,  64  pp.,  illustrated,  softbound.  (Stock  No. 
BR-5)  $4.95 


-r 


American 
i  Political  badges 
and  Medak  ts 
1789-1892 

Edmund  ft-  Sullivan 


Penny  Whimsy,  by  Dr.  William  H.  Sheldon 
with  the  collaboration  of  Walter  H.  Breen  and 
Dorothy  I.  Paschal.  One  of  the  most  interesting 
and  valuable  books  ever  written,  the  volume 
covers  United  States  large  cents  1793-1814,  but 
the  thoughts  expressed  and  the  methodology  ex¬ 
plained  are  useful  for  any  numismatist  with  an  in¬ 
tellectual  turn  of  mind.  If  you  want  to  go  beyond 
the  basics  of  coin  collecting  and  get  involved  in 
"what  numismatics  is  all  about,"  then  buy  this 
book!  340  pp.,  plus  supplementary  plates.  Il¬ 
lustrated,  hardbound.  (Stock  No.  BS-1)  $35.00 

American  Political  Badges  and  Medalets 
1789-1892,  by  Edmund  B.  Sullivan.  An  updating 
and  revision  of  the  DeWitt  work,  this  treats  dif¬ 
ferent  numismatic  items  relating  to  presidential 
campaigns.  656  pp.,  illustrated,  hardbound. 
(Stock  No.  BS-2)  $60.00 


Numismatics  of  Massachusetts,  by  Malcolm 
Storer.  Reprint.  384  pp.,  illustrated,  hardbound. 

(Stock  No.  BS-3)  $35.00 

History  of  the  First  U.S.  Mint,  by  Frank  H. 
Stewart.  Reprint.  A  view  of  the  operations  of  the 
Philadelphia  Mint  in  the  early  days.  Written  by 
the  man  who  subsequently  purchased  the 
building  and,  for  reasons  perplexing  today, 
ultimately  demolished  it.  Valuable  reading.  224 
pp.,  illustrated,  hardbound.  (Stock  No.  BS-4) 
$20.00 


A  Survey  of  American  Trade  Tokens,  an  an¬ 
thology  edited  by  David  E.  Schenkman.  Many  dif¬ 
ferent  stories  concerning  tokens  issued  by  mer¬ 
chants,  transportation  companies,  and  others  of 
the  nineteenth  and  early  twentieth  centuries. 
Fascinating  reading.  512  pp.,  illustrated,  hard¬ 
bound.  (Stock  No.  BS-5)  $25.00 

Silver  &  Gold  Commemorative  Coins 
1892-1954,  by  Anthony  Swiatek  and  Walter 
Breen.  Large-format  362-page  hardbound  book 
detailing  the  history  of  various  commemorative 
issues.  A  "must"  for  every  reference  library.  Bear¬ 
ing  a  cover  price  of  $35.00,  this  book  has  sold 
many  thousands  of  copies.  We  have  made  a 
special  "deal"  with  the  publisher  and  have  ac¬ 
quired  several  hundred  copies  at  A  VERY  SPECIAL 
PRICE!!!  Here  is  truly  a  lot  of  book  for  the  money, 
especially  at  our  price  of  just  (Stock  No.  BS-6) 
$19.95 


* 

COUNTERFEIT 

MIS  STIVCI  m  unomcuu 

U.S.  COINS 


#  o  •  * 


The  Walking  Liberty  Half  Dollar,  by  Anthony 
Swiatek.  This  recently-published  72-page  soft- 
bound  guide  of  one  of  America's  most  popular 
series  discusses  various  date  and  mintmark 
varieties  individually  and  gives  comments 
concerning  their  availability.  (Stock  No.  BS-7) 
$9.95 

Counterfeit,  Mis-struck  and  Unofficial  U.S. 
Coins,  by  Don  Taxay.  An  interesting  view  of  many 
diverse  United  States  issues,  including  restrikes 
and  "fancy  pieces"  made  at  the  Mint  for  collec¬ 
tors,  deceptive  forgeries  made  by  private  in¬ 
dividuals,  and  other  items.  A  must  book  for  the 
serious  numismatist.  221  pp.,  illustrated,  soft- 
bound.  (Stock  No.  BT-1)  $8.00 


U.S.  Mint  and  Coinage,  by  Don  Taxay.  Dave 
Bowers  was  once  asked  to  name  the  five  most 
valuable  books  ever  produced  on  the  subject  of 
American  coinage,  and  this  was  one  of  them!  This 
reprint,  illustrated  and  hardbound,  is  over  400  pp., 
in  length  and  discusses  the  operations  of  the 
United  States  Mint  from  the  earliest  days  onward. 
Lots  of  fascinating  "behind  the  scenes"  informa¬ 
tion  is  provided— including  just  about  everything 
you  ever  hoped  to  know!  An  absolutely  essential 
book  for  each  and  every  person  interested  in  the 
United  States  coinage.  (Stock  No.  BT-2)  $27.50 

The  United  States  Half  Dimes,  by  Daniel  W. 
Valentine.  Quality  illustrated  hardbound  reprint 
by  Quarterman  Publications  of  this  1931  classic, 
with  new  introduction  by  Q.  David  Bowers  and 
with  additional  material  by  Messrs.  Ahwash, 
Breen,  Davis,  Neil,  and  Newlin— literally  a 
"library"  on  the  subject  of  this  denomination!  A 
superb  book.  (Stock  No.  BV-1)  $35.00 


Morgan  &  Peace  Silver  Dollars,  by  Leroy  Van 
Allen  and  A.  George  Mallis.  A  large  and  lavish 
316-page  illustrated  hardbound  book  describing 
in  detail  the  background  and  production  of 
Morgan  and  Peace  dollars,  the  minting  and 
melting,  and  providing  the  reader  with  an  in¬ 
credibly  detailed  listing  of  minute  die  varieties  An 
essential  text  for  those  "involved"  with  the 
popular  silver  dollar  series.  Published  at  $29.95, 
but  we  made  A  VERY  SPECIAL  DEAL  with  the 
publisher,  so  now  we  can  offer  you  copies  at  an 
attractive  discount.  (Stock  No.  BV-2)  $19.95 


-41- 


The  United  States  Trade  Dollar,  by  John  M. 
Willem.  Reprint  of  the  1959  work.  An  extremely 
detailed  study  of  the  trade  dollar,  with  emphasis 
on  the  historical  background,  the  Coinage  Act  of 
1873,  and  other  data,  together  with  information 
on  trade  coins  of  other  nations.  Standard 
reference  on  the  series.  191  pages,  some  illustra¬ 
tions,  hardbound.  (Stock  No.  BW-2)  $15.00 

A  Guide  Book  of  United  States  Coins,  by  R.S. 
Yeoman.  The  standard  reference  on  United  States 
corns,  the  book  that  we  all  have,  the  book  that 
got  us  all  started!  And,  one  of  the  ten  best-selling 
books  in  general  publishing  history!  Contains 
listings  and  prices  for  United  States  colonial, 
regular,  commemorative,  and  territorial  coins.  256 
pp.,  illustrated,  hardbound.  (Stock  No.  BY-1) 
$5.95 


Books  on  U.S.  Currency 

The  following  books  have  as  their  subjects 
various  aspects  of  United  States  currency  notes, 
a  fascinating  field! 

The  Bureau  of  Engraving  and  Printing,  The 
First  Hundred  Years  1862-1962,  reprint.  The 
history  of  paper  money  and  related  products  pro¬ 
duced  by  the  federal  government.  Interesting 
background  information!  199  pp.,  illustrated, 
hardbound.  (Stock  No.  BD-3)  $22.50 

Paper  Money  of  the  United  States,  by  Robert 
Friedberg.  The  standard  reference  on  United 
States  paper  money  and,  as  such,  a  must  for  any 
numismatic  library.  Also  contains  information  on 
fractional  currency  and  encased  postage  stamps. 
255  pp.,  illustrated,  hardbound.  (Stock  No.  BF-1) 
$19.50 

The  publisher  is  delayed  and  this  book  will  not 
be  available  until  the  2nd  or  3rd  month  of  1985. 


Standard  Catalog  of  National  Bank  Notes,  by 

John  Hickman  and  Dean  Oakes.  One  of  the  most 
impressive  books  we  have  ever  seen,  this  volume 
lists  paper  money  from  the  1860s  through  the 
1920s  as  issued  by  national  banks  in  the  United 
States.  Lists  1 17,007  notes,  with  values,  rarity,  and 
history!  1,216  pp.,  illustrated,  hardbound.  (Stock 
No.  BH-1)  $75.00 

The  Comprehensive  Catalog  of  U.S.  Paper 
Money,  by  Gene  Hessler.  Brand-new  edition.  This 
502-page  book  gives  much  information  not  readily 
available  elsewhere  and,  together  with  the  earlier- 
offered  Paper  Money  of  the  United  States  (by 
Robert  Friedberg  our  Stock  No  BF-1)  constitutes 
a  veritable  ''library''  on  the  subject  of  American 
paper  money  In  many  instances  the  production 
totals  are  given  for  different  notes,  rarity  data  for 


certain  notes  and  sheets  as  provided,  and  related 
series  are  discussed.  A  "must"  for  the  beginning 
or  serious  collector  of  paper  money.  Illustrated, 
softbound.  (Stock  No.  BH-2)  $19.50 

U.S.  Essay,  Proof  and  Specimen  Notes,  by 

Gene  Hessler.  Definitive!  Profusely  illustrated.  224 
pages,  hardbound.  (Stock  No.  BH-3)  $19.50 

Standard  Catalogue  of  U.S.  Paper  Money,  by 

Chester  Krause  and  Robert  Lemke.  Guide  to 
United  States  paper  money  notes,  large  and  small 
sizes.  211  pp.,  illustrated,  softbound.  (Stock  No. 
BK-3)  $14.50 


LOTS  OF  GOSSIP! 

Do  you  like  personal  information  and  lots  of 
"gossip"  about  coins?  If  so,  some  really  nifty 
reading  is  in  store  for  you  if  you  order  a  copy  of 
An  Inside  View  of  the  Coin  Hobby  in  the  1940s: 
The  Walter  P.  Nichols  File,  a  book  now  available 
from  us  for  $14.95  postpaid.  Order  Stock  No. 
BB-70. 


Modern  U.S.  Paper  Money,  by  Charles  O'Don¬ 
nell.  Describes  small-size  notes  of  our  own  era. 
Much  information!  336  pp.,  illustrated,  softbound. 

(Stock  No.  BO-1)  $15.00 

The  Obsolete  Bank  Notes  of  New  England,  by 

David  C.  Wismer.  Reprint.  The  standard  guide  to 
currency,  pre-1865,  issued  by  various  banks  in  the 
northeastern  corner  of  the  United  States. 
Thousands  of  individual  listings.  320  pp.,  limited 
illustrations,  hardbound.  (Stock  No.  BW-1)  $20.00 


Books  on  World  and  Ancient  Issues 


The  following  books  are  in  the  various  fields 
associated  with  world  coins,  world  paper  money, 
and  ancient  coins.  We  recommend  them  highly. 


Money  of  the  World,  by  Richard  C.  Doty.  A 
large  and  handsomely  illustrated  "coffee  table 
book"  on  coins  of  all  eras,  but  far  more  valuable 
than  just  for  the  pictures— it  is  written  by  one  of 
America's  most  prominent  numismatic  experts, 
respected  curator  of  the  American  Numismatic 
Society.  A  nice  overview  of  coinage  from  the 
earliest  days  of  centuries  ago  right  down  to  now. 
240  pp.,  illustrated,  hardbound.  (Stock  No.  BD-4) 
$30.00 

Standard  Price  Guide  of  World  Crowns  and 
Talers,  by  Frank  Draskovic.  560  pp.,  illustrated, 
softbound.  (Stock  No.  BD-5)  $19.50 

Encyclopedia  of  Mexican  Paper  Money,  by 

Duane  D.  Douglas.  368  pp.,  illustrated,  softbound. 

(Stock  No.  BD-6)  $22.50 

Standard  Catalogue  of  World  Coins,  by 

Chester  Krause  and  Clifford  Mishler.  This  massive 
volume,  the  size  of  the  Manhattan  telephone 
book,  contains  countless  entries  and  is  the  stan¬ 
dard  guide  to  coins  of  the  world.  Enough  reading 
to  keep  you  busy  for  six  months,  seven  days,  and 
three  hours!  2,016  pp.,  illustrated,  softbound. 
(Stock  No.  BK-4)  $32.50 


Classical  Greek  and  Roman  Coins,  The  In¬ 
vestor's  Handbook,  by  Michael  F.  Miller.  A 


discussion  of  classical  coins  from  the  viewpoint 
of  investment— an  unusual  perspective.  221  pp., 
illustrated,  hardbound.  Closing  out  our  stock  of 
a  couple  dozen  copies.  Will  soon  be  discon¬ 
tinued.  (Stock  No.  BM-2)  $17.95 

Standard  Catalogue  of  World  Paper  Money, 

by  Pick  and  Bruce.  957  pp.,  illustrated,  hard¬ 
bound.  (Stock  No.  BP-1)  $35.00 


A  Catalog  of  Modern  World  Coins,  1850-1964, 

by  R.S.  Yeoman,  revised  and  edited  by  Arthur  and 
Ira  Friedberg.  Published  by  Whitman,  the  latest 
edition  is  over  500  pages  in  length  and  contains 
a  wealth  of  information.  Illustrated,  softbound. 

(Stock  No.  BY-2)  $9.95 


THE  EARLY  BIRD 

The  early  bird  gets  the  coin  here  at  Bowers  and 
Merena  Galleries.  As  we  go  to  press,  each  and 
every  item  in  our  Rare  Coin  Review  is  actually 
available,  but  some  pieces  are  one  of  a  kind,  even 
inexpensive  pieces.  So,  the  sooner  you  order,  the 
better  are  the  chances  to  receive  everything  you 
ask  for.  We  offer  the  right  coins  to  the  right  buyers 
for  the  right  prices— and  the  popularity  of  our  of¬ 
ferings  is  such  that  many  items  are  sold  out  within 
a  week  or  two  of  the  time  our  catalogues  are 
published.  So,  be  an  early  bird— and  telephone 
or  mail  your  order  today! 


-42- 


A  Special  Limited  Book  Offering! 


For  a  limited  time  only  we  offer  the 
following  reprints  (with  some  originals 
interspersed,  as  noted)  of  a  number  of 
old-time  numismatic  classics.  The  books 
can  be  ordered  individually  as 
described,  or  you  can  have  a  special 
package  deal  on  one  of  each. 

All  of  these  titles  are  new  to  our  Rare 
Coin  Review;  none  has  been  listed 
earlier.  As  many  of  these  were  reprinted 
a  few  years  ago  (and  in  some  instances 
advertised  higher  at  the  time;  the 
Parmelee  reprint  going  for  up  to  $125, 
for  example),  once  they  are  sold  out, 
that's  it.  So,  let  Sandi  Scott  know  early 
what  you  can  use.  As  is  true  of  the 
books  in  our  “regular"  book  section, 
you  can  reserve  any  item  by  telephon¬ 
ing  her  at  (603)  569-5095  and  charging 
it  to  your  MasterCard,  Visa,  or  American 
Express. 

Each  book  is  offered  with  a  30-day 
money  back  guarantee.  Read  on  .  .  . 

Illustrated  History  of  United  States  Coins,  by 

A.  Kosoff,  1962.  Original  (not  a  reprint).  76-page 
softbound  illustrated  listing  of  the  J.  Hewitt  Judd 
Collection.  Included  are  many  landmark  patterns, 
some  of  them  unique,  as  well  as  prizes  in  the 
regular  series.  You  will  find  a  1 796  quarter  describ¬ 
ed  as  a  Proof,  the  rare  1804  silver  dollar,  and 
numerous  other  legendary  pieces— Proofs,  pat¬ 
terns,  regular  issues,  and  others.  The  late  Abe 
Kosoff  was  especially  proud  of  this  work  and  con¬ 
sidered  it  to  be  one  of  his  finest  productions. 
(Stock  No.  BD-1)  $10.00 

Frossard's  37th  Auction  Sale,  October  1884 
(reprint).  One  of  just  100  copies  reprinted  in  1975. 
A  varied  sale  of  American  coins  in  different  series, 
patterns,  currency,  foreign  coins  and  metals,  etc. 
An  inexpensive  introduction  to  the  cataloguing 
techniques  of  one  of  America's  most  outspoken 
19th  century  coin  dealers.  Includes  plates  and 
prices  realized  list.  Approximately  80  pages,  soft- 
bound.  (Stock  No.  BZ-2)  $29.00 

S.H.  Chapman's  Sale  of  the  Sargent  Collection 
of  United  States  Coins,  June  20,  1913.  One  of 

100  copies  reprinted.  45  pages  plus  plates,  soft- 
bound.  One.  of  the  classic  early  Chapman 
catalogues.  Many  prime  rarities,  large  cents  (in 
particular)  and  other  desirable  pieces  are  offered. 
Includes  prices  realized.  (Stock  No.  BZ-3)  $29.00 

The  King  Farouk  Sale— The  Palace  Collections 
of  Egypt,  1954,  Sotheby.  Reprint.  Includes  plates 
and  prices  realized.  Here  is  one  of  the  most 
remarkable  catalogues  of  all  times.  Great  rarities 
were  offered  in  bulk  lots.  You've  heard  about  the 
Farouk  Collection,  but  how  many  collectors  have 
actually  seen  or  owned  a  copy  of  the  large 
catalogue  (over  300  pages  plus  plates)?  (Stock  No. 
BZ-4)  $32.00 

The  Lorin  Parmelee  Collection  of  American 
coins,  catalogued  by  the  New  York  Coin  and 
Stamp  Company,  1890.  Reprint  limited  to  250 
copies.  96  pages  plus  plates.  The  Parmelee  Col¬ 
lection  was  considered  to  be  the  finest  American 
cabinet  at  the  time.  Included  are  the  great 
American  rarities— the  1822  half  eagle,  the  1804 
silver  dollar,  etc.  A  classic  and  a  "must"  for  any 


Sandi  Scott 


Pick  a  Pair 
of 

COIN  QUIZZES! 

Recently,  one  Rare  Coin  Review  reader  told  us 
that  the  Coin  Quiz  which  appeared  on  page  39 
of  our  last  issue  was  too  easy— amateur  stuff,  he 
said.  With  equal  conviction,  another  reader  said 
that  it  was  too  tough,  noting  that  one  had  to  be 
an  expert  to  get  them  all  right!  So,  for  diversion 
we  will  have  two  contests  in  this  issue.  Actually, 
the  two  contests  are  combined  into  one.  Ques¬ 
tions  one  through  ten  in  the  following  Coin  Quiz 
are  relatively  simple  (in  our  opinion)  for  anyone 
who  has  been  at  the  coin  collecting  "game"  for 
a  year  or  two.  Questions  eleven  through  twenty 
are  tough,  tough,  tough— we've  deliberately  made 
them  that  way.  The  answers  to  all,  however,  can 
be  found  in  A  Guide  Book  of  United  States  Coins, 
although  you  may  have  to  do  some  real  hunting 
for  questions  eleven  through  twenty! 

So,  try  your  luck.  If  per  chance  anyone  gets  all 
twenty  right,  please  let  us  know  and  we'll  think 
of  some  sort  of  prize  to  give  you! 

1.  The  death  of  what  President  inspired  the 
design  of  this  half  dollar  first  issued  in  1964? 

2.  A  variety  of  the  first  year  of  issue  of  the  Lin¬ 
coln  cent,  this  piece  was  made  to  the  extent  of 
484,000  examples  and  is  today  a  famous  rarity. 

3.  Although  commemorative  gold  coins  of  the 
$50  denomination  were  struck,  this  denomination 
represents  the  largest  regular  issue  gold  coin  pro¬ 
duced  by  the  various  United  States  mints. 

4.  While  the  names  of  various  government  of¬ 
ficials  are  often  soon  forgotten,  numismatists 
preserve  for  posterity  the  identities  of  various  coin 
designers  and  engravers.  This  particular  engraver 
produced  beautiful  pattern  silver  dollars  dated 
1836-1839. 

5.  In  order  to  signify  a  weight  change  in  1873, 
what  feature  was  added  to  the  obverse  of  the 
design  of  the  dime,  quarter,  and  half  dollar? 

6.  Today  Kenneth  E.  Bressett  is  the  editor  of  A 
Guide  Book  of  United  States  Coins,  but  the  primary 
author  and  originator  of  the  book,  a  gentleman 
well  respected  and  honored  in  numismatics,  is: 

7.  Chartered  by  Congress,  this  non-profit  group 
invites  collectors  to  share  experiences  and  to 
become  involved  with  numismatists  from  all  parts 
of  the  world. 


numismatic  scholar.  (Stock  No.  BZ-5)  $59.00 

B.  Max  Mehl's  last  auction  sale:  October  25, 
1955.  Original,  not  a  reprint.  93  pages.  Illustrated 
This  catalogue,  representing  an  average  auction, 
was  the  swan  song  of  one  of  the  most  colorful 
dealers  the  American  numismatic  scene  has  ever 
known.  (Stock  No.  BZ-6)  $10.00 

Beckwith  Collection  Auction  Sale,  by  S.H. 
Chapman.  Reprint  limited  to  150  copies.  One  of 
the  classic  sales  of  large  cents,  the  Beckwith  Col¬ 
lection  lives  today  in  the  pedigrees  which  are  still 
found  attached  to  outstanding  coins  in  this  series. 
Twenty-four  pages  of  text,  prices  realized,  and 
plates.  (Stock  No.  BZ-7)  $27.00 

"SPECIAL  CLASSIC  BOOK  PACKAGE  DEAL": 

If  purchased  separately  the  six  publications  just 
described  would  cost  you  a  total  of  $196.  Sub¬ 
ject  to  the  availability  of  supplies  (as  noted,  some 
of  the  reprints  were  made  in  very  small  quantities), 
we  offer  you  one  of  each,  postpaid,  for  just  $145. 
Request  "Special  Classic  Package  Book  Deal" 
when  ordering— and  send  your  order  early! 


8.  In  what  year  was  the  twenty-cent  piece  first 
minted  for  circulation? 

9.  What  is  the  name  of  the  first  United  States 
commemorative  half  dollar,  an  issue  made  in 
1892? 

10.  What  is  the  date  span  of  Susan  B.  Anthony 
metal  dollars? 

Now,  here  we  go  with  the  "toughies. "  See  how 
many  you  can  guess— personally,  we  think  you're 
doing  well  if  you  get  even  a  single  one  right! 

11.  What  early  American  copper  coin  has 
LIBERTY  AND  VIRTUE  as  part  of  the  reverse 
legend? 

12.  What  is  the  percentage  composition  of  the 
copper-nickel  flying  eagle  and  Indian  cents? 

13.  Who  designed  the  1946  Iowa  com¬ 
memorative  half  dollar? 

14.  What  piece  of  legislation  "reaffirmed  the 
fiction  that  the  silver  dollar  was  a  standard 
coin"?— in  the  words  of  the  Guide  Book. 

15.  Who  is  a  leading  contender  for  the  person 
whose  initials  are  "EG"  on  a  certain  early  coin? 

16.  On  what  early  coin  type  did  these  initials 
appear? 

17.  What  change  was  made  to  the  edge  of  the 
Indian  type  $10  beginning  in  1912? 

18.  Where  did  George  T.  Morgan,  designer  of 
the  silver  dollar  bearing  his  name,  study  engrav¬ 
ing  in  earlier  years? 

19.  Who  freed  from  servitude  John  Reich? 

20.  Where  did  the  bison  who  modeled  for  the 
reverse  of  the  buffalo  nickel  live? 


ANSWERS:  1.  John  F.  Kennedy.  2.  1909-S 
V.D.B.  cent.  3.  Double  eagle.  4.  Christian 
Gobrecht.  5.  Arrows  at  date.  6.  Richard  S. 
Yeoman.  7.  American  Numismatic  Association. 
8.  1875.  9.  Columbian  half  dollar.  10.  1979  to 
1981 .11.1 776  Massachusetts  Pine  Tree  copper. 
12.  88%  copper,  12%  nickel.  13.  Adam  Pietz.  14. 
Gold  Standard  Act  of  1900.  1 5.  Elisha  Gallaudet. 
16.  1776  Continental  dollar.  17.  Stars  were  in¬ 
creased  from  46  to  48.  18.  At  the  Royal  Mint  in 
London.  19.  "A  mint  official."  20.  New  York 
Zoological  Gardens. 


-43- 


Coins  of  Great  Britain 


Welcome  to  a  wonderful  listing  of 
British  coins.  It  has  been  many  years 
since  we  have  had  an  outstanding  fixed- 
price  selection  of  the  coins  of  Great  Bri¬ 
tain  (although  our  related  firm,  Auctions 
by  Bowers  and  Merena,  Inc.,  has 
handled  many  important  properties  in 
the  meantime).  From  early  hammered 
pieces  to  rare  patterns,  from  mercurious 
Queen  Anne  farthings  to  impressive 
crowns,  the  following  listing  contains 
something  for  everyone. 

The  cataloguing  by  Tom  Becker  is  ar¬ 
ranged  according  to  monarch.  Within 
each  monarchial  category  we  begin 
with  the  smallest  denomination  and 
continue  to  the  largest,  much  as  the 
cataloguing  of  United  States  coins  is 
done. 

Rather  than  provide  lengthy  descrip¬ 
tions  of  each  coin,  Tom  has  used  many 
photographs  of  the  actual  pieces  being 
offered  for  sale  to  illustrate  the  basic 
types  and  particular  varieties.  Should 
you  require  a  more  detailed  explanation 
of  any  particular  coin,  please  call  or 
write  Tom  and  he  will  be  pleased  to 
discuss  your  questions  in  detail.  As  is 
true  of  other  coins  in  this  Rare  Coin 
Review,  any  piece  can  be  reserved  by 
telephoning  Tom  at  (603)  569-5095. 

While  the  numerical  grading  system 
is  not  normally  used  while  cataloguing 
coins  of  the  world,  Tom  has  adapted  the 
standard  United  States  system  in 
describing  the  pieces  in  order  to  make 
the  condition  of  each  coin  easily 
understood  by  American  collectors.  Of 
course,  these  represent  simply  the 
opinions  of  Tom  Becker,  for,  as  stated, 
there  are  no  "official"  numerical 
grading  standards  except  for  United 
States  coins.  This  is  not  altogether  a  new 
procedure,  for  numerous  cataloguers 
have  extended  the  numerical  system  to 
include  such  pieces  as  territorial  gold, 
colonials,  and  other  series,  primarily 
American,  which  also  are  not  covered 
by  the  official  ANA  criteria. 

We  have  felt  for  many  years  that  the 
coinage  of  Great  Britain  is  interesting  to 
collect  and  is  an  excellent  diversion  for 
the  numismatist  who  is  interested  in  ex¬ 
panding  his  horizons.  Because  of  the 
great  strength  of  the  American  dollar 
and  the  generally  quiet  market  in  British 


coins,  now  is  one  of  the  best  times  in 
recent  decades  to  begin  collecting  these 
items.  Our  tradition  in  British  coins  is  a 
rich  one.  Years  ago,  in  the  early  1960s, 
Q.  David  Bowers  did  a  regular 
"Trends"  column  for  Coin  World  on  the 
subject  of  British  coins.  He  also 
discovered  numerous  overdates  and 
other  varieties  not  known  to  British 
specialists  earlier.  He  handled  many 
outstanding  items,  including  the  unique 
1954  Queen  Elizabeth  penny  and  the 
unique  1808  penny,  both  purchased 
from  C.  Wilson  Peck,  author  of  the  stan¬ 
dard  reference  on  British  copper  coins; 
multiple  Proof  sets  of  1 826,  1831 ,  1 839, 
1853,  1862,  and  other  seldom-seen 
delicacies,  and  various  other  legendary 
holdings. 

In  many  cases  the  prices  today  are  no 
more  than  you  would  have  paid  back 
in  1974,  over  ten  years  ago.  Each  and 
every  coin  is  subject  to  our  regular 
30-day  money  back  guarantee  of 
satisfaction.  We  are  not  pleased  until 
you  are. 

We  hope  you  enjoy  this  section  of  the 
Rare  Coin  Review.  Tom  Becker  invites 
your  comments  and  suggestions.  As 
noted,  call  Tom  if  you  would  like  to 
reserve  anything  or  if  you  simply  would 
like  to  "talk  coins"  or  seek  more  infor¬ 
mation.  Although  Tom  is  best  known  to 
Rare  Coin  Review  readers  as  a  specialist 
in  United  States  coins,  his  talents  are 
many,  and  he  spent  quite  a  few  years 
of  his  life  trading  primarily  in  British  and 
other  world  coins. 

The  Early  Hammered  Coinage 

From  the  eariest  times  until  the  middle  of  the 
16th  century  all  British  coins  were  made  by  hand. 
The  obverse  and  reverse  designs  were  engraved 
into  the  ends  of  sturdy  metal  rods.  One  die,  most 
often  the  obverse,  was  tapered  to  a  point  so  that 
it  could  be  driven  into  a  block  of  wood  and  thus 
be  held  stationary.  Then  a  metal  blank,  which  was 
about  to  become  a  coin,  was  laid  on  this  stationary 
die  and  the  reverse  die  was  set  upon  it  and  then 
given  a  blow  with  a  heavy  hammer.  Presumably 
the  mint  worker  who  held  the  movable  die  and 
the  one  who  used  the  hammer  were  com¬ 
municating  well  and  were  on  friendly  terms. 

While  this  method  of  "hammering"  coins  into 
being  went  through  several  refinements,  the  pro¬ 
cess  remained  essentially  the  same  for  centuries. 
As  one  can  imagine,  this  crude  method  of  mak¬ 
ing  coins  resulted  in  frequently  damaged  dies, 
cracked  planchets,  blundered  legends,  and  weak¬ 
ly  struck  coins.  Each  of  the  items  we  offer  for  sale 
in  the  hammered  coinage  section  of  this  catalogue 
is  remarkable  in  that  the  coins  display  strong  por¬ 


traits,  good  strikes,  etc.  These  early  coins  are 
simply  a  delight  to  behold  and  to  own. 

(All  of  the  following  were  produced  without 
dates.) 


Edward  IV  (1461-1483) 


Gold  Ryal  (Rose  Noble).  This  large  gold  coin 
features  a  facing  King  Edward  aboard  a  ship 
holding  a  sword  and  coat  of  arms.  The  reverse 
has  as  its  central  devices  a  series  of  crowns  and 
flowers.  Choice  AU-55.  Well  struck  and  free 
of  defects  and  striking  blunders.  A  most  im¬ 
pressive  early  gold  coin  both  because  of  its  size 
and  design . 1,650.00 


Henry  VIII  (1509-1647) 


Groat  (A  silver  coin  equal  in  value  to  fourpence). 
Profile  of  a  young  Henry  facing  right.  The 
reverse  features  a  coat  of  arms  and  a  cross  ex¬ 
tending  to  the  borders.  Lustrous  Extremely 
Fine-45  . 225.00 


Note:  The  cross  was  used  as  a  central  device  on  many  coins 
as  a  way  of  protecting  the  coins  from  unscrupulous  individuals 
who  would  remove  some  of  the  silver  or  gold  by  shaving  or  clip¬ 
ping  metal  from  the  edges  which  were  seldom  uniformly  round. 
Since  the  ends  of  the  cross  extended  to  the  edge  of  the  coin  in 
four  directions  any  shaving  or  clipping  could  be  presumably 
detected  and  the  underweight  coin  rejected  by  the  people.  Still, 
altering  coins  was  a  fairly  common  practice  and  must  have  been 
the  occupation  of  rather  desperate  individuals  since  the  penalty 
for  getting  caught  in  the  act  was  often  death. 


Gold  Crown  of  the  Double  Rose.  A  large  crowned 
rose  is  the  central  obverse  device  with  the 
reverse  having  a  shield  and  crown.  Lustrous 
EF-40.  Quite  scarce  and  yet  still  very  affordable 

750.00 


Edward  VI  (1547-1553) 

Sixpence.  Facing  portrait  of  the  young  king.  Ev 

ceptionally  well  struck  with  a  masterful  style 
(for  the  time) . 875.00 


-44- 


Note:  The  mint  employees  who  engraved  the  dies  for  the  early 
coinage  were  blessed  with  vastly  different  degrees  of  ability.  The 
most  desirable  coins  of  the  period  are  thus  the  ones  produced 
from  the  best  dies  and  struck  by  the  most  skilled  workers.  Boldly 
struck  coins  with  strong  portraits  and  devices  often  command  a 
large  premium  over  coins  of  inferior  quality. 


Philip  and  Mary  (1554-1558) 

Groat.  Crowned  bust  of  Mary  facing  left  with  the 
typical  shield  and  cross  reverse.  Choice  Ex¬ 
tremely  Fine-45  for  the  issue,  with  a  bold 
portrait  . 675.00 


Elizabeth  I  (1558-1603) 

Halfcrown.  Bust  left  with  arms  reverse.  Extremely 
Fine-40.  Well  struck  and  nicely  toned.  The 
halfcrowns  and  frowns  of  Elizabeth  are  highly 
prized  and  this  example  ranks  as  a  very 
desirable  rarity . 1,895.00 


James  I  (1603-1625) 


Gold  Laurel.  (One  Laurel  is  equal  to  20  shillings) 
Very  artistic  portrait  of  James,  crowned  with 
a  laurel  wreath,  facing  right.  Crowned  arms 
reverse.  Choice  AU-55.  Fully  lustrous  and  well 
struck.  Another  important  early  gold  coin 
which  is  selling  in  today's  market  for  a  frac¬ 
tion  of  its  previous  price.  Just  ....  1,195.00 

Learning  to  Deal  with  Pounds,  Shillings 
and  Pence. 

Since  most  of  us  are  used  to  using  a  decimal 
currency  system  that  has  100  cents  to  the  dollar, 
working  with,  and  understanding  the  British 
system  of  240  pence  to  the  pound  may  at  first 
seem  a  bit  confusing. 

Perhaps  this  simple  conversion  chart  will  help. 

Two  farthings  =  One  halfpenny 

Two  halfpennies  =  One  penny 

Twelve  pennies  =  One  shilling 

Two  shillings  =  One  florin 

Five  shillings  =  One  crown 

20  shillings  =  One  pound  or  sovereign 

Aided  by  the  chart,  denominations  such  as 
threepence,  sixpence,  and  halfcrowns  are  self- 
explanatory.  Other  denominations  will  be 
explained  as  we  encounter  them  in  this  offering. 


Charles  I  (1625-1649) 


Threepence.  Aberystwyth  Mint.  Bust  facing  left 
with  arms  reverse.  Choice  EF-45  with  bold 
Portrait  . 375.00 


Groat  Dated  1644.  Oxford  Mint.  Bust  of  Charles 
right.  A  portion  of  the  reverse  legend  when 
translated  from  the  Latin  reads:  The  religion 
of  the  Protestants,  the  laws  of  England,  the 
liberty  of  Parliament.  Certainly  this  is  a  bit 
more  complex  than  a  simple  "In  God  We 
Trust."  Choice  Extremely  Fine-45  and  a  rarity 
in  this  high  grade . 750.00 

Note:  The  above  two  coins  are  excellent  examples  of  "branch 
mint"  coinage.  At  various  times  there  were  dozens  of  different 
mints  scattered  across  Britain.  The  need  for  coinage  was  univer¬ 
sal  in  every  section  of  the  country  and  the  transporting  of  bullion 
or  the  finished  coins  from  one  place  to  another  was  a  risky 
business.  Thus,  we  find  coins  from  Aberystwyth  in  Wales,  Oxford 
in  the  center  of  England,  and  Tower  Mint  coins  from  London 
serving  one  king  and  the  people. 


Halfcrown.  Charles  on  horse  left.  Struck  on  very 
unusual,  almost  square  planchet.  Remember, 
the  idea  was  to  make  the  coins  as  round  as 
possible  to  avoid  clipping.  Choice  Extremely 
Fine-45  for  issue.  Priced  at  just . 750.00 


Crown.  Tower  Mint,  London.  Charles  riding  a 
superbly  styled  prancing  horse.  Choice  EF-45 
. 2,250.00 

As  one  can  imagine,  striking  large  and  thick 
silver  coins  presented  some  real  problems  at  the 
mints.  This  beautiful  crown  was  exceptionally  well 
done  and  therefore  very  desirable. 


USE  THE  TELEPHONE! 

Use  the  telephone!  Tom  Becker  is  just  a 
telephone  call  away  at  (603)  569-5095.  See 


something  interesting?  Give  Tom  a  call  and  he  will 
personally  reserve  it  for  you.  And,  you  can  call 
Sandi  Scott  at  the  same  number  to  reserve  any 
books  you  want— or  to  charge  them  to  your  credit 
card  for  instant  shipment 


Commonwealth  Period  (1649-1660) 


Shilling  1652.  Sun  Mint  mark.  Choice  Extremely 
Fine-45  . 650.00 


Crown  1653.  "God  is  with  us"  legend  and  date 
surround  arms.  Choice  EF-45.  Well  struck  with 
very  pleasing  surfaces . 2,150.00 


Milled  or  "Machine  Made"  Coinage 

In  the  opinion  of  many  collectors  British  coins 
are  among  some  of  the  most  beautiful  ever  pro¬ 
duced.  They  are,  in  general,  also  very  well  made. 
The  British  mints  set  the  standard  for  others  to 
follow,  producing  business  coinage  of  excellent 
quality  and  unexcelled  Proof  strikings. 

Innovative  pattern  issues  struck  in  a  variety  of 
metals  abound  to  delight  the  collector  who  en¬ 
joys  owning  unusual  rarities.  In  short  the  great 
variety,  superb  quality,  and  rarity  of  British 
coinage  will  provide  you  with  a  lifetime  of 
pleasure  and  enjoyment. 

Charles  II  (1660-1685) 


Farthing.  1675.  Exquisite  Choice  AU-55  with  hints 
of  mint  red!  . 350.00 


Sixpence.  1677.  Choice  AU-55.  Fully  lustrous  and 
very  scarce  this  nice  . 550.00 

1683  Choice  EF-45.  Lots  of  mint  lustre  and  no 
defects . 275.00 


-45- 


Shilling.  1663.  Uncirculated,  MS-60.  This  coin  has 
many  characteristics  associated  with  presen¬ 
tation  pieces  of  the  era.  It  is  exceptionally  well 
struck  and  has  prooflike  fields.  This  coin  has 
Attractive  toning  which  further  complements 
its  rarity . 1,850.00 

James  II  (1685-1688) 


Sixpence.  1687/6  Very  clear  overdate.  Choice 
AU-55  with  attractive  toning . 925.00 


Crown.  1687.  Uncirculated  MS-60  with  full 
lustre.  Just  a  bit  weakly  struck  at  12:00  on 
obverse  and  reverse.  A  magnificent  example 
and  priced  at  just . 1,550.00 


William  and  Mary.  (1688-1694) 


Halfpenny.  1694.  Choice  AU-55  with  hints  of  mint 
red.  Typically  weak  reverse . 550.00 

Note:  As  in  colonial  America,  copper  coins  cir¬ 
culated  heavily  in  Britain  being  the  "peoples" 
medium  of  exchange.  While  silver  coins  may  have 
been  hoarded  or  used  to  pay  debts  among  the 
wealthy,  the  "coppers"  were  part  of  daily  com¬ 
merce  and  quickly  worn.  For  this  reason  most 
every  farthing,  halfpenny  and  penny  issued  prior 
to  the  reign  of  Victoria  is  highly  prized  when  en¬ 
countered  in  Choice  condition. 


Sixpence  1693.  Conjoined  busts  of  the  two  rulers 
facing  left  Choice  AU-55  with  a  minor  obverse 
plane het  flaw  A  good  value  for  just  325.00 


William  III  (1694-1702) 


Sixpence.  1696.  Choice  About  Uncirculated-55. 
Beautifully  toned  . 225.00 

1696  York  Mint.  (Y  mintmark  located  under  bust.) 
Choice  EF-45  and  quite  scarce . 235.00 


1700  Uncirculated,  Mint  State-60.  Well  struck  on 
an  immaculate  planchet.  Pleasant  toning,  all 
for  just . 335.00 


Shillings.  1695.  Choice  EF-45.  Considerable  lustre. 
A  scarce  date  in  this  short  series  .  .  .375.00 

1700  Choice  AU-55.  Great  lustre . 325.00 


Farthing.  1699.  Struck  in  silver.  Select  Proof-63. 

This  coin  is  superbly  toned  and  is  a  most 
popular  rarity . 995.00 


Halfpenny.  1696.  Choice  EF-45.  A  very  scarce 
type  coin . 625.00 


Half  Crown.  1697.  Choice  AU-55.  Beautiful  ton¬ 
ing  with  golden  highlights.  Another  of  the 
many  exceptional  coins  that  are  being  offered 
to  our  customers  for  the  first  time.  A  chance 
to  acquire  a  coin  of  great  historical  importance 
and  rare  beauty.  Priced  at . 850.00 

Note:  With  very  few  exceptions  these  coins  are 
one-of-a-kind  in  our  stock.  We  would  suggest  that 

-46- 


you  give  us  the  largest  possible  list  of  alternate 
selections  so  that  you  have  the  best  chance  of  ob- 
taining  one  or  more  of  these  pieces  for  your 
collection. 


Crown.  1696.  Uncirculated,  MS-63.  Blue  halo 
toning  and  frosty  devices.  One  of  the  finest  ex¬ 
amples  of  this  type  that  we  have  ever  seen, 
and  we  have  seen  hundreds  of  high  grade  ex¬ 
amples!  Priced  accordingly  at  ....  1,550.00 

Anne  (1702-1714) 

Farthings  (struck  when  the  famous  scientist  Isaac 
Newton  was  mint  master) 


1714.  Small  flan.:Uncirculated,  MS-60.  Glossy 
red  and  brown  surfaces.  A  beautiful  specimen! 
. 1,250.00 


Large  flan.  Select  Uncirculated,  MS-63.  Fully  50% 
mint  red  and  rare  this  nice  . 1,650.00 

The  following  excerpt  from  English  Copper ,  Tin 
&  Bronze  Coins  in  the  British  Museum  1558-1958 
by  C.  Wilson  Peck  adds  insight  to  understanding 
this  interesting  little  coin. 

Many  believe  that  the  farthing  dated  1714  was 
actually  issued  for  circulation,  but  Craig,  who  had 
access  to  the  latest  relevant  records,  states  em¬ 
phatically  that  'Queen  Anne's  farthings  .  .  .  and 
her  double-headed  halfpence  were  but  strays  from 
these  experiments.  No  copper  was  issued  in 
England  under  Anne.'  It  is  extremely  likely, 
however,  that  the  small  flan  variety  of  pattern  was 
the  intended  piece,  and  had  the  queen  lived  but 
three  years  longer  it  would  have  been  struck  for 
circulation  from  ready-rolled  fillets  purchased 
from  trade  sources  as  the  mint  was  eventually  forc¬ 
ed  to  do  for  George  I  in  171 7.  This  particular  far¬ 
thing,  which  is  a  gem  in  its  simplicity  of  design, 
was  obviously  struck  in  greater  quantities  than  the 
others,  and  the  slight  wear  shown  by  some 
specimens  may  well  have  been  caused  by  their 
being  carried  'for  luck'  in  the  pockets  of  the 
favoured  few  who  managed  to  obtain  a 
specimen." 


GET  UNDERSTANDING! 

With  all  thy  getting,  get  understanding  an  old 
saying.  And,  the  best  way  to  get  understanding 
is  by  buying  books.  Check  our  Book  Section  in 
this  Rare  Coin  Review  and  then  send  us  your 
order.  Books  are  absolutely  the  best  investment 
you  can  make  in  the  Field  of  rare  coins. 


Halfpenny  undated  pattern.  Select  Proof-63. 
Glossy  medium  brown  surfaces  .  .  .  .795.00 

Shillings 


1708  Uncirculated,  MS-60.  Lightly  toned450.00 

1711  Uncirculated,  Mint  State-60.  Beautifully 
toned . 350.00 


Halfcrown  1707  Uncirculated,  MS-60.  Fully 
lustrous  with  light  halo  toning  . 850.00 


ing,  and  dealing  with  coins.  But,  Tom  Becker  is 
never  too  busy  to  talk  with  you— even  if  you  are 
not  buying  anything.  Tom  Becker  and  other  staff 
members  offer  personal  service,  a  commodity  that 
is  all  too  rare  in  today's  world. 

See  something  interesting?  Telephone  Tom  at 
(603)  569-5095  and  ask  him  to  reserve  it  for  you. 


Halfcrown.  1720.  Choice  About 
Uuncirculated-55.  A  very  scarce  type  coin. 
The  coin  we  offer  is  lightly  toned  with  pleas¬ 
ing  surfaces.  It's  too  bad  that  we  couldn't  of¬ 
fer  more  than  one  collector  a  chance  to  own 
a  coin  of  this  quality . 795.00 


Note:  The  coins  of  the  “Georges"  are  among 
the  most  popular  of  all  British  coins  because  they 
combine  antiquity  with  modern  minting 
techniques.  It  is  possible  to  collect  these  issues 
by  type  or  to  concentrate  on  one  denomination 
and  assemble  a  date  collection.  Proof  and  pattern 
issues  abound  and  they  are  a  delight  to  behold. 
The  mint  workmanship  is  simply  amazing  and 
many  issues  are  obtainable  in  superb  condition. 


George  I  (1714-1727) 


Farthing.  1721.  Choice  Extremely  Fine-45.  Quite 


Halfpenny.  1718.  Choice  EF-45.  Glossy  brown  sur¬ 
faces  and  in  great  demand  when  encountered 
this  nice  . 325.00 


Shilling.  1720.  Choice  AU-55.  Lots  of  lustre  and 
very  pleasing  surfaces . 335.00 


ABOUT  TOM  BECKER 

Tom  Becker,  our  Senior  Numismatist,  is  right 
at  “action  central"  when  it  comes  to  buying,  sell 


George  II  (1727-1760) 

Farthings 


1736  Choice  About  Uncirculated-55.  Glossy  sur¬ 

faces  and  hints  of  mint  red,  $275;  1737  Pat¬ 
tern  struck  in  silver,  Select  Proof-63.  Light 
golden  toning  . 1,695.00 

1737  Pattern  struck  in  copper,  Select  Proof-63. 

This  is  the  same  type  as  the  silver  issue  offered 
above  . 995.00 


1739  AU-50.  Glossy  brown . 135.00 

1744  Mature  bust  type.  Choice  AU-55  with  hints 
of  mint  red . 265.00 

1749  Choice  EF-45 . 125.00 


1754  Uncirculated,  MS-60.  Twenty-five  percent 
mint  red  and  thus  an  exceptional  quality  that 
is  seldom  available . 169.00 


Halfpennies 


1749  Uncirculated,  MS-60.  Seventy  percent  mint 
red.  Examples  of  this  scarce  type  are  seldom 
seen  with  so  much  of  the  original  mint 
“bloom"  remaining . 495.00 

1754  Unc.,  MS-60.  Hints  of  mint  red  .  .365.00 


Sixpence  1758  Choice  About  Uncirculated-55.  At¬ 
tractively  toned . 75.00 


Shilling  1739  Choice  AU-55.  Lightly  toned  with 
considerable  lustre . 365.00 


Crowns 


f^u»*******M“MV<.< 


1739  Choice  Extremely  Fine-45.  Slight  planchet 
flaw  at  rim  . 995.00 


1746  Proof-60.  A  very  scarce  issue.  While  this 
coin  has  been  slightly  hairlined  by  handling 
such  a  minor  imperfection  is  allowable  when 
one  considers  the  age  and  rarity.  A  great  ad¬ 
dition  to  any  collection  . 3,450.00 


-47- 


1746  Lima  under  bust.  Choice  AU-55.  Lightly 
toned  over  lustrous  surfaces  . 1,995.00 


Two  Guineas  (gold),  (One  Guinea=  21  shillings), 
1738.  Extremely  Fine-40.  Don't  let  the 
technical  grade  of  this  coin  fool  you.  It  is  a 
simply  beautiful  piece  with  lots  of  lustre  and 
no  defects.  Priced  at  just . 1,150.00 


George  III  (1760-1820) 
Farthings 


1773  Unc.  MS-60.  Mostly  brown . 135.00 

1774  Choice  AU-55.  Hints  of  mint  red  and  very 

attractive . 11 5.00 


1799  Gilt  (gold  plated),  Proof-63.  Some  minor 
toning  spots  . 350.00 

1799  Uncirculated  MS-60.  Mostly  brown  with 
hints  of  mint  red  . 89.00 


1806  Gilt  (gold  plated),  Proof-63.  Lightly 
toned  . 350.00 

1806  Bronzed  Proof-63.  This  coin  has  medium 
brown  COk»r . 295.00 

1806  Copper  Proof-63.  Mostly  brown  with  hints 
of  mint  red  225.00 

Note  Collectors  who  were  active  during  the 


reign  of  George  III  must  have  had  a  wonderful 
time  adding  exotic  specimens  to  their  collections. 
The  various  mints,  official  and  private,  struck  all 
sorts  of  pattern  issues  with  special  finishes,  Proofs 
of  regular  issue  coins  and  hundreds  of  interesting 
tokens  and  medals.  Most  of  these  "collectibles" 
have  remained  of  great  collector  interest  to  this 
very  day  and,  being  highly  sought  after  when 
issued,  many  pieces  can  be  traced  from  the  col¬ 
lections  of  one  great  numismatist  to  the  next. 

Halfpennies 


1 779  Choice  AU-55.  Hints  of  mint  red  around  the 
devices  . 185.00 


1772  Uncirculated  MS-60.  Fifty  percent  mint  red 
and  thus  a  very  special  coin . 225.00 


1773  Unc.  MS-60.  Medium  brown  with  hints  of 
mint  red  around  the  devices . 149.00 


1790  Bronzed  Pattern  by  Droz.  Select  Proof-63. 

Exhibits  a  beautiful  deep  walnut  brown  finish 
that  was  added  at  the  mint . 395.00 

1790  Gilt  Pattern  Sel.  Pr.-63.  Similar  to  the  coin 
above  with  minor  design  changes  .  .350.00 

Note:  Being  designated  to  produce  the  designs 
for  official  coinage  was  a  great  accolade  for  any 
artist  and  could  lead  to  many  other  commissions. 
As  a  result,  many  very  unusual  and  beautiful  pat¬ 
tern  coins,  like  the  two  offered  above,  were  pro¬ 
duced  to  display  the  artists'  creativity  and  ability. 


1797  Pattern  Select  Proof-63.  Similar  to  the  famous 
"cartwheel"  coinage.  A  very  scarce  and 
popular  issue  . 625.00 


1799  Select  Uncirculated  MS-63.  What  lustre! 


Nearly  90%  mint  red!  . 185.00 


ENJOYMENT 

Here  at  Bowers  and  Merena  Galleries  we  are 
"your  friends  in  the  rare  coin  business,"  a  motto 
we  have  used  for  a  long  time.  We  enjoy  coins  and 


endeavor  to  treat  you  as  we  ourselves  would  like 
to  be  treated.  Put  some  enjoyment  in  your  col¬ 
lecting  activities— -do  business  with  Tom  Becker 
at  Bowers  and  Merena  Galleries. 


1805  Irish  issue.  Gilt  Pattern.  Select  Proof-63. 

Hibernia  and  Harp  reverse.  A  scarce  and 
beautiful  coin!  . 375.00 


beautiful  coin!  . 375.00 

1806  Bronzed  Select  Proof-63  . 275.00 

Pennies 


1805  Irish  Reverse.  Gilt  Select  Proof-63.  Mirror 
surfaces.  Contained  inside  two  metal  storage 
shells  as  issued  by  the  Soho  mint!  .  .625.00 


1806  Select  Unc.  MS-63.  Beautifully  toned  with 
hints  of  mint  red  . 149.00 


1807  Select  Uncirculated,  MS-63.  Seventy  percent 
mint  red  and  therefore  exceptional  quality  for 
the  type . 225.00 


Twopence 


Note:  The  "cartwheel"  twopence  is  one  of  Bri¬ 
tain's  most  interesting  coins  and  clearly  illustrates 
the  then-important  necessity  of  having  every  coin 
contain  exactly  the  amount  of  metal  that  was 
declared  by  the  face  value  of  the  coin.  Putting 
twopence  worth  of  copper  into  one  coin  resulted 
in  an  object  the  size  of  a  silver  dollar  and  twice 
as  thick!  Stories  are  told  of  how  this  otherwise 
cumbersome  coin  appealed  to  tradesmen  because 
when  the  center  was  bored  out,  the  remaining 
disk  proved  to  be  an  ideal  "washer"  for  wagon 
wheels! 

1797  Bronzed  Proof-63.  A  superb  example  with 


beautiful  walnut  brown  patina . 995.00 

1797  Select  Proof-63.  Complete  with  mint  issued 
metal  storage  shells . 895.00 


Sixpence  1816  Unc.  MS-63.  Light  toning  65.00 


—  48— 


Half  Guineas 


Shillings 


1763  Distinctive  youthful  portrait  known  as  the 
"Northumberland”  shilling.  Choice  AU-55 
prooflike.  Issued  in  this  year  only  and  very 
scarce . 750.00 


1819  Select  BU,  MS-63.  Frosty  surfaces  with  light 
golden  toning . 145.00 


Half  Crown  1817  Select  Brilliant  Uncirculated 
MS-63.  Lightly  toned  . 450.00 


Crowns 


1804  Bank  of  England  Dollar.  Choice  AU-55. 
Struck  over  a  Spanish  colonial  8  reales.  Some 
of  the  legend  of  the  host  coin  is  clearly  visi¬ 
ble,  $325;  Select  Proof-63.  Struck  on  a  "new” 
planchet.  Beautifully  toned  . 1,250.00 

1804  Bank  of  England  Dollar.  Struck  in  copper. 
Choice  Proof-65.  Immaculate  walnut  brown 
surfaces . 895.00 


Bank  of  Ireland  Token  of  Six  Shillings.  Select 
Proof-63.  A  very  scarce  and  desirable  coin 
with  just  a  hint  of  light  toning  ....  1,150.00 


SECOND  CHOICES 

When  sending  your  order,  please  list  second 
choices  on  the  back  of  your  order  blank.  These 
second  choices  will  not  be  used  unless  your  first 
requested  items  have  been  sold.  If  you  are  col¬ 
lecting  for  a  type  set,  simply  write  "same  type" 
on  the  back  and  we  will  send  a  coin  of  equal  or 
higher  grade  and  value,  and  of  the  same  design 
type,  if  the  first  items  requested  have  been  sold. 


1818  Crown  LVIII  edge.  Select  Brilliant  Uncir¬ 
culated,  MS-63,  prooflike  . 475.00 

1819  Crown  LIX  edge.  Select  Brilliant  Uncir¬ 
culated,  MS-63  . 425.00 

Bank  Tokens 


1811  Token  of  five  shillings,  sixpence.  Choice 
Proof-65.  Superb  light  toning . 995.00 


181 1  Silver  token  of  three  shillings.  Proof-60.  Light¬ 
ly  toned . 895.00 


The  Gold  Coins  of  George  III 

Note:  The  following  selection  of  popular  gold 
coins  affords  the  wise  collector  the  opportunity 
to  acquire  some  beautiful  items  at  very  reasonable 
prices.  In  many  cases,  coins  of  similar  quality  were 
bringing  double  our  asking  price  a  few  years  ago. 
While  our  description  of  each  coin  is  brief,  each 
of  these  pieces  exhibits  full  lustre  with  no  defects 
and  great  "eye  appeal." 

Imagine  being  able  to  buy  a  scarce  gold  coin 
that  is  nearly  two  hundred  years  old  for  the  same 
price  as  a  common  U.S.  $20  gold  piece! 

We  think  this  offering  will  tempt  many  collec¬ 
tors  but  we  will  be  able  to  only  fill  the  orders  of 
a  few  so  it  is  suggested  that  you  call  to  reserve 
your  selections. 


One  Quarter  Guinea.  1762  Youthful  bust  of 
George.  Unc.  Mint  State-60  with  full  lustre 
. 450.00 


1787  Choice  Brilliant  Proof-65.  A  great  rarity.  Cer¬ 
tainly  few  of  the  surviving  examples  known 
can  equal  the  quality  of  this  coin  .2,350.00 


1813  Select  Brilliant  Uncirculated,  MS-63.  Scarce 
date . 595.00 


Guineas 


1787  Select  BU,  MS-63 

1791  BU,  MS-60 . 

1793  Select  BU,  MS-63 


725.00 

595.00 

595.00 


1795  Select  BU,  MS-63  . 595.00 


695.00 


Half  Sovereigns 


1817  Select  BU,  MS-63 


595.00 


1820  Select  BU,  MS-63  . 595.00 

Sovereigns 


1817  Select  BU,  MS-63 _ 1,295.00 


George  IV  (1820-1830) 


Farthing.  1821 .  Choice  Proof-65.  A  tiny  mintage 
and  therefore  very  scarce.  This  example  is 
lightly  toned  and  sure  to  please  . .  1,250.00 


Halfpennies 


1826  Unc.,  MS-60.  Hints  of  mint  red  .  .  120.00 

1827  Uncirculated,  MS-60.  A  bit  more  mint  red 

than  the  preceding  coin  . 145.00 


Sixpence.  1826.  Choice  BU,  MS-65  $110;  Select 
Proof-63.  Superb  rainbow  toning  .  .  .420.00 

Shillings 


1824  Select  BU,  MS-63.  Fully  lustrous  with  light 

toning . 475.00 

1825  Select  BU,  MS-63.  Superb  toning  .225.00 


1826  Select  Proof-63.  Rainbow  toning  .595.00 

Halfcrowns 


1820  Select  Proof-63.  Beautifully  toned1,495.00 

1823  Select  BU,  MS-63.  Lots  of  mint  lustre  and 
just  a  bit  of  attractive  light  toning.  .  .595.00 


Late  18th-  and  Early  19th-Century 
Tokens 

During  the  later  part  of  the  18th  century  the 
Royal  Mint,  burdened  by  having  to  use  outdated 
minting  equipment,  was  unable  to  keep  pace  with 
the  country's  need  for  new  coins.  The  lack  of  a 
reasonable  supply  of  silver  and  gold  coins  proved 
to  be  a  nuisance,  but  the  shortage  of  copper  pen¬ 
nies  and  halfpennies  was  critical  and  created 
many  problems  for  the  working  class  citizens  and 
the  industries  that  employed  them. 

In  1787  a  copper  mining  company  located  in 
Anglesey,  having  ready  access  to  the  needed  raw 
materials,  attempted  to  solve  the  problem  of  how 
to  pay  its  workers  by  striking  token  issues  at  its 
own  mint. 

This  experiment  worked  well  and  soon  other 
industries  followed  suit  and  began  producing 
"coins. ''  Soon  dozens  of  new  token  issues,  many 
of  them  creatively  designed,  began  finding  their 
way  info  the  normal  money  supply. 

As  with  the  gold  coinage  of  California,  the  British 
token  issues  filled  a  genuine  commercial  need. 
With  very  few  exceptions  the  tokens  were  of  good 
copper  and  full  weight  Distribution  and  use  was 
also  territorial”  in  nature  Merchants  and  in¬ 


dustries  produced  tokens  to  be  used  by  the 
citizens  in  their  community.  It  became  important 
for  each  commercial  establishment  to  produce 
tokens  that  could  be  redeemed  at  their  place  of 
business  or  face  the  consequences  of  having  their 
customers  trade  with  others  who  issued  tokens 
and  honored  them  as  money. 

In  a  short  time  many  merchants  and  businesses 
had  succeeded  in  producing  an  immense  number 
of  different  tokens.  Popular  types  included  issues 
that  featured  people,  buildings,  animals,  political 
events  and  many  more  fascinating  subjects  that 
would  never  have  appeared  on  official  coinage. 

Pressed  to  supply  official  coinage,  or  live  with 
a  growing  amount  of  private  issues,  the  govern¬ 
ment  responded  with  the  production  of  pennies 
and  twopence  in  1797  and,  at  the  same  time 
declaring  the  private  tokens  to  be  illegal  as  money. 

During  the  Napoleonic  wars  another  shortage 
of  small  change  resulted,  and  in  1811  tokens,  in 
farthing,  halfpenny,  and  penny  denominations 
reappeared  and  silver  shillings  and  sixpece  were 
produced  to  fill  the  small  change  void  also. 

In  order  to  help  you  begin  a  collection  of  these 
fascinating  "private  coins"  we  have  assembled 
special  packages  which  will  include  a  good  selec¬ 


tion  of  some  of  the  most  popular  and  unusual 
types  that  were  issued. 

It  is  important  to  note  that  the  tokens  included 
in  these  packages  are  not  the  easily  obtained  com¬ 
mon  varieties,  but  scarce  to  rare  issues  in 
remarkablely  choice  condition. 

Note:  We  have  illustrated  this  offering  with 
photographs  of  just  a  few  of  the  many  interesting 
types  of  tokens  we  have  on  hand.  Tokens  of  these 
types  may  or  may  not  be  included  in  your  package 
but  you  can  be  assured  that  those  you  do  receive 
will  be  among  some  of  the  most  unusual 
numismatic  items  you  have  ever  encountered,  and 
you  will  be  delighted  by  each  token's  superb 
condition. 

Penny  and  halfpenny  packages:  Each  token  will 
grade  at  least  Uncirculated,  MS-60  or  better. 

5  very  different  and  unusual  tokens  .  .325.00 

10  scarce  to  rare  copper  tokens . 550.00 

Silver  sixpence  and  shilling  token  packages. 
Each  token  will  grade  at  least  Choice  AU-55  or 
better. 

5  different . just . 425.00 

10  different . only . 750.00 


-50- 


1825  Select  BU,  MS-63.  Frosty  surfaces  with  light 
toning.  A  very  scarce  type  coin  that  is  seldom 
found  in  high  grade . 575.00 


1826  Select  Proof-63.  Beautiful  gold  and  gray  ton¬ 
ing.  All  early  Proof  coins  are  scarce  and  this 
halfcrown  is  particularly  so . 895.00 


William  IV  (1830-1837) 


Halfpenny.  1837.  Choice  About  Uncirculated-55. 
Hints  of  mint  red . 150.00 


Sixpence.  1831.  Milled  edge.  Choice  Proof-65. 

An  exciting  coin  with  superb  mirror  surface 
and  frosty  devices  . 895.00 


Shilling.  1834.  Select  Brilliant  Uncirculated, 


BUY  SOME  BOOKS! 

In  this  issue  we  offer  many  fascinating  reference 
books  from  less  than  $4  up  to  over  $50  per 
volume,  with  many  possibilities  in  between. 
Whether  you  are  interested  in  United  States  coins, 
paper  money,  world  coins,  ancient  coins,  tokens, 
or  whatever,  your  best  investment  is  to  read  about 
them.  And,  you  will  find  it  fascinating  to  read 
about  series  you  do  not  presently  collect.  Much 
has  been  said  about  coin  investments,  but  prob¬ 
ably  the  best  investment  of  all  in  the  field  is  in 
knowledge— as  obtained  through  the  books  we 
offer. 


MS-63.  Scarce  this  nice  .  .  .  - . 295.00 


Halfcrown.  1834.  Brilliant  Uncirculated,  MS-60. 
Lightly  toned . 295.00 


British  Coins  and  Their 
"Edge  Messages" 

The  first  edge  lettering  was  applied  to  British 
coins  in  order  to  prevent  “clipping,"  that  is,  the 
removal  of  small  amounts  of  silver  or  gold  from 
the  edges  of  the  coins.  In  modern  times,  since 
coins  were  uniformly  round,  the  practice  of  edge 
lettering  was  less  important  but  still  practiced. 

Two  interesting  examples  of  lettering  to  be 
found  on  the  edges  of  British  coins  include: 

Has  Nisi  Periturus  Mihi  Adimat  Nemo.  (Let  no 
one  remove  these  letters  from  me  under  penalty 
of  death). 

Decus  Et  Tutamen.  (An  ornament  and  a 
safeguard). 

Sometimes  a  coin  can  have  three  important 
sides,  one  “side"  being  the  edge. 

The  Coinage  of  Queen  Victoria 
(1837-1901) 

Queen  Victoria  was  not  only  Britain's  longest 
reigning  monarch  to  date,  but  was  a  great  favorite 
with  her  subjects.  It  was  during  her  reign  that  Bri¬ 
tain  influenced  much  of  the  world  trade  and  com¬ 
merce  and  rose  to  the  stature  of  a  great  power. 

The  coinage  of  Victoria  is  very  popular  with  col¬ 
lectors  both  in  Britain  and  in  the  United  States 
because  the  coins  are  beautiful  in  design,  collec¬ 
table  in  sets,  and  available  at  modest  prices. 

The  following  selection  is  particularly  rich  with 
type  coins  and  as  such  offers  the  beginning  col¬ 
lector  an  excellent  starting  point  from  which  to 
embark  upon  an  entire  collection. 

Copper  and  Bronze  Coins 
One-Third  farthings. 

1844.  Issued  only  one  year  and  intended  for  use 
by  the  inhabitants  of  the  island  of  Malta.  Unc., 
MS-60.  Lots  of  mint  red  remains  .  .  .125.00 

Half  farthings 


1844.  Select  Brilliant  Uncirculated,  MS-63.  Nearly 
full  mint  red . 95.00 

A  superb  three  piece  starter  collection.  Includes 
an  1847,  1851  and  1852.  Each  coin  is  Uncir¬ 
culated,  MS-60  with  hints  of  mint  red.  An  un¬ 
common  group  priced  at  just . 195.00 

1853  Select  Proof-63.  Less  than  20  Proof  sets  were 
minted  in  this  year  making  this  little  coin  quite 
rare  by  any  standards.  Glossy  brown  surfaces 
with  attractive  toning.  Offered  at  the  very 

modest  price  of  just . 295.00 


Farthings 


1841  Unc.,  MS-60.  Mostly  mint  red . 59.00 

1843  Select  Unc.,  MS-63.  Mint  red . 75.00 

1847  Uncirculated,  Mint  State-60.  Red  and  brown 
surfaces . 59.00 

1858  Unc.,  MS-60.  50%  mint  red  . 59.00 


1863  Select  Proof-63.  Some  hints  of  red.  A  very 
scarce  and  desirable  issue . 1,150.00 

1875  Select  BU,  MS-63.  80%  mint  red.  A  key  date 
in  this  series.  British  collectors,  much  like  their 
U.S.  counterparts  are  fond  of  assembling  com¬ 
plete  collections  and  thus  a  low  mintage  issue 
like  this  seems  to  always  be  in  demand  on  both 


sides  of  the  ocean . 249.00 

Halfpennies 

1838  First  year  of  issue.  Select  Unc.,  MS-63.  Hints 
of  original  mint  red  color . 69.00 


1866  Select  Uncirculated,  Mint  State-63.  Full  mint 
red! . 115.00 

1877  Select  Uncirculated,  Mint  State-63.  50%  mint 
red . 69.00 

1 891  Select  Uncirculated,  Mint  State-63.  50%  mint 
red . 69.00 


1893  Select  Uncirculated,  Mint  State-63.  Full  mint 
red . 1 15.00 

Sixpence 


1839  Plain  edge.  Select  Proof-63.  Light  toning  and 
frosty  devices.  Quite  scarce  as  are  all  "early" 


19th-century  Proof  issues . 550.00 

1881  Brilliant  Unc.,  MS-60  . 85.00 

1884  Brilliant  Unc.,  MS-60  . 85.00 

1885  Brilliant  Unc.,  MS-60  . 85.00 


1886  Select  BU,  MS-63.  Beautiful  toning  99.00 

1887  Select  BU,  MS-63  . 99.00 

Or .  .  .  purchase  the  entire  group  1881-1887  as 


-51- 


1851  Sel.  Unc  MS-63.  Lots  of  mint  red  85.00 

1853  Select  Unc  MS-63.  Glossy  brown  surfaces 
with  hints  of  mint  red . 69.00 

Note  One  cannot  examine  British  copper  and 
bronze  coins  without  being  amazed  at  how  well 
preserved  many  "collectors'  quality"  specimens 
there  actually  are.  How  could  these  early  pieces 
have  survived  the  ravages  of  time  and  the  salty  air? 


1854  Select  Uncirculated.  Fifty  percent  mint  red 
and  priced  at  just . 85.00 

1859  Select  Uncirculated  MS-63.  Another  exam¬ 
ple  that  has  survived  with  50%  of  the  original 
mint  red  intact  and  yet  this  beautiful  coin  is 
priced  at  just  . 85.00 

1862  "Bun  head"  design  type  Select  Unc.  MS-63. 
Nearly  full  mint  red . 95.00 

1876-H  Select  Uncirculated  MS-63.  Eighty  percent 
mint  red  . 59.00 

The  H  mintmark  which  appears  below  the  date 
on  the  coin  listed  above  is  the  mark  of  the  private 
minting  firm  of  Ralph  Heaton  and  Sons  located 
in  Birmingham,  England.  This  remarkable 
establishment  long  produced  coins  for  Great  Bri¬ 
tain  and  many  other  countries. 


1877  Select  Uncirculated  MS-63.  Eighty  percent 


mint  red  . 59.00 

1882-H  Select  Uncirculated  MS-63.  Glossy,  lightly 
toned  surfaces  with  some  remnants  of  mint  red 
color . 55.00 

1888  Select  Uncirculated  MS-63.  Nearly  full  mint 

red! . 65.00 

1889  Select  Unc.  MS-63.  Mostly  red  .  .  .  .75.00 

1891  Select  Unc.  MS-63.  Mostly  red  ...  .65.00 


Pennies 

1 841  Unc.  MS-60  Variety  with  colon  (:)  after  REG 
in  reverse  legend.  Quite  scarce  ....  185.00 


1848  Select  Uncirculated  MS-63.  Eighty  percent 


mint  red.  Beautiful  surfaces  and  thus  a 


premium  type  coin  . 149.00 

1853  Uncirculated  MS-60.  Glossy  brown  with 
hints  of  mint  red  . 85.00 

1855  Uncirculated  MS-60.  Some  red  around 
devices . 85.00 

1858  Choice  AU-55.  Glossy  brown . 59.00 


1860  Select  Proof-63.  Pattern  by  Moore.  A 

somewhat  "bun  head"  style  design  but  with 
long  curls  in  Victoria's  hair.  The  reverse 
features  a  highly  detailed  seated  Britannia  with 
Great  Britain  above  and  One  Penny  below. 
A  most  interesting  addition  to  any  collection 
and  priced  at  just . 425.00 

1869  Select  Unc.  MS-63.  The  regular  issue.  Red 
and  brown . 65.00 

1862  Select  Unc.  MS-63.  Seventy-five  percent  mint 

red  with  most  attractive  toning . 85.00 

1863  Select  Unc.  MS-63.  Hints  of  mint  red  and 

beautiful  surfaces . 65.00 


ACTION  LINE! 

(603)  569-5095 

You  can  reserve  any  item  by  telephoning 
Tom  Becker  at  this  number! 


-52- 


listed  above.  We  have  but  one  of  each  coin  in 
stock  so  the  first  caller  gets  the  five  coins  for  the 
special  price  of  just . 395.00 

1887  Jubilee  type  with  shield  in  garter  reverse. 
Select  BU,  MS-63,  nicely  toned  . 35.00 

1 893  "Old  head",  a  rather  unbecoming,  but  com¬ 
monly  used  name,  for  this  type.  Select  BU, 
MS-63  $55;  Select  Proof-63.  A  beautifully 
toned  coin  with  frosty  devices . 425.00 


1897  Select  BU,  MS-63.  Rainbow  toning. 55. 00 

1899  Select  BU,  MS-63.  Another  simply  beautiful 

coin  with  original  toning . 55.00 

1 900  Select  BU,  MS-63.  Just  as  nice  as  the  previous 

coin . 55.00 


1901  Select  BU,  MS-63.  Nicely  toned  .  .  .55.00 

Or .  .  .  since  we  have  just  one  of  each  of  these 
lovely  coins  in  stock  you  can  buy  us  out  by  tak¬ 
ing  the  1893,  1897,  1899,  1900,  1901  all  in  MS-63 
condition  for  just . 235.00 


Shillings 

1  887  Jubilee  head.  Proof-60.  Light  hairlines  in  the 
obverse  field . 275.00 


1893  "Old  head  design."  Select  Proof-63.  Superb 
light  toning . 375.00 


Florins 


1849  "Godless"  type  with  D.G.  omitted  in  legend, 
issued  in  this  year  only.  Choice  AU-55  $225; 
Select  Unc.,  MS-63.  Lightly  toned  .  .475.00 

The  following  three  coins  have  Gothic  type  let¬ 
tering  and  the  date  is  "spelled  out"  in  Roman 
numerals. 

1868  Select  Unc.,  MS-63.  Scarce  issue  with 
beautiful  toning  . 295.00 


1872  Brilliant  Uncirculated,  MS-60/63.  Light  halo 
toning . 195.00 

1885  Select  BU,  MS-63.  Lightly  toned  .  .195.00 

1887  Jubilee  type.  Select  Proof-63.  Superb  light 
toning . 375.00 


1900  "Old  head."  Select  BU,  MS-63  ...  1 15.00 

Halfcrowns 

1874  Uncirculated,  MS-60.  Light  blue  and  gold 
toning . 240.00 

1876  Brilliant  Uncirculated,  MS-60/63.  Just  a  hint 
of  toning . 275.00 

1878  Brilliant  Uncirculated,  MS-60/63.  Lightly 
toned . 275.00 


1879  Select  BU,  MS-63.  Lightly  toned.  A  scarce 


date,  particularly  in  high  grade . 450.00 

1881  Select  BU,  MS-63.  Fully  lustrous  .  .275.00 

1882  Select  BU,  MS-63  . 275.00 

1883  Select  BU,  MS-63  . 275.00 

1893  Select  Proof-63.  Original  toning  .  .475.00 

Crowns 


1847  "Gothic"  design  type.  Select  Proof-63.  Very 
attractive  light  toning  with  lots  of  original  lustre 
on  the  reverse.  This  very  popular  type  is  con¬ 
sidered  by  many  collectors  to  be  one  of  the 
world's  most  beautiful  coins.  "Gothic  crowns" 
of  comparable  quality  to  this  piece  were  sell¬ 
ing  "dealer  to  dealer"  for  $2,000+  just  a  few 
years  ago.  The  current  strength  of  the  U.S. 
dollar  makes  this  coin,  and  many  other  British 
coins,  relative  bargains  when  compared  to 
previous  price  levels.  We  certainly  think  this 
one  is  a  very  good  value  at  just  .  .  1,850.00 


1893  "Old  head  type."  LVI  regnal  date  on  edge. 
Select  BU,  MS-63  . 375.00 

1897  "Old  head  type."  LX  regnal  date  on  edge. 


Select  Brilliant  Uncirculated,  MS-63.  Beautiful 
golden  toning . 295.00 

1900  LXIV  edge.  Brilliant  Unc.,  MS-60  189.00 

Gold  Coins 


1853  Half  Sovereign.  Select  Proof-63.  Very  rare 
as  only  10  to  15  Proof  sets  were  produced.  Im¬ 
agine  owning  a  coin  of  which  a  tiny  handful 
exist!  This  fully  brilliant  example  has  some  faint 
hairlines  yet  exhibits  full  mirror  fields  and  frosty 
devices.  Simply  delightful  to  behold  and  priced 
fairly  at  just . 5,250.00 


1887  Sovereign.  Proof-60/63.  Lightly  hairlined  but 
priced  accordingly  at  just . 1,550.00 

Maundy  Sets 


These  sets  of  four  silver  coins  were  presented 
by  the  king  or  queen  to  the  needy  on  the  religious 
holiday  of  Maundy  Thursday.  Each  set  contains 
the  1,  2,  3,  4  pence  denomination.  While  the 
distribution  of  these  coins  was  not  in  sets,  but 
rather  an  assortment  based  on  the  age  of  the 
Monarch,  the  coins  are  most  popularly  collected 
in  sets  of  four  pieces  and  are  offered  in  that 
manner. 

1883  Set.  Each  coin  is  Select  BU,  MS-63  with  at¬ 
tractive  toning  . 115.00 

1886  Set.  All  four  coins  are  Select  Brilliant  Uncir¬ 
culated,  MS-63 . 1 15.00 

1890  Set.  Each  coin  is  Select  Brilliant  Uncirculated, 
MS-63  . 115.00 

20th  Century  British  Coins 

Just  one  glance  at  the  group  of  1917  farthings 
we  bought  would  convince  you  that  these  coins 
have  an  interesting  story  behind  them. 

Beginning  in  1897  the  British  Mint  began  the 
practice  of  oxidizing  the  surface  of  newly  minted 
farthings  in  order  to  give  them  an  attractive,  but 
blackened  appearance.  The  official  explanation 
for  why  this  was  done  was  to  aid  the  public  and 
to  avoid  confusion  between  these  coins  and  the 
half  sovereign  which  was  of  similar  size.  Sup¬ 
posedly  the  brilliant  surface  of  the  newly  minted 
farthing  looked  much  like  gold  and  it  was  thought 
that  the  smallest  value  coin  of  the  realm  might  be 
mistaken  for  one  of  the  most  valuable  issues. 

Since  the  reverse  of  the  half  sovereign  features 
St.  George  slaying  a  dragon,  it  is  hard  to  imagine 
how  this  could  be  confused  with  the  farthing  s 


-53- 


seated  Britannia?  Also  it  is  unlikely  that  anyone 
would  confuse  the  weight  of  a  gold  piece  with 
that  of  a  copper  coin.  Unofficial  supposition  is  that 
the  coins  were  actually  blackened  to  discourage 
collectors  and  speculators  from  hoarding  the  new 
coins. 

Edward  VII 

1902  Shilling.  Select  BU,  MS-63.  Fully  brilliant  and 
frosty . 89.00 


ing  $89;  Select  Proof-63.  Matte  finish.  Light 
gray  and  blue  toning . 165.00 


George  V  (1910-1936) 


1911  Proof  set.  All  coins  are  Choice  Proof-65 
without  presentation  case.  This  set  contains 
eight  pieces,  Maundy  set  through  halfcrown. 


Every  piece  is  beautifully  toned  in  a  multitude 
of  colors  and  have  obviously  been  kept 
together  as  a  set  for  many  years.  .  .  .750.00 


1930  Halfcrown.  Select  BU,  MS-63.  A  scarce  date 
in  a  popular  series . 425.00 


George  VI 

1946  Maundy  set  of  four  coins.  Onepence 
through  fourpence.  Ch.  Proof-65  .  .  .  .89.00 

1947  Maundy  set  of  four.  Ch.  Proof-65  .  .89.00 

As  we  go  to  press  we  have  on  hand  approx¬ 
imately  fifty  1917  farthings.  The  issuance  of  bright 
finish  coins  was  resumed  in  1918  and  thus  this 
is  the  last  year  of  issue. 

As  a  treat  for  those  customers  who  take  an  interest 
in  British  coins,  and  read  this  listing,  we  will  send 
one  of  these  1917  farthings  to  the  first  50 
customers  who  return  an  order  blank  with  the 
word  “British"  written  on  it. 


SUBSCRIBE! 

Ray  Merena  checked  our  subscription  renewals 
and  found  that  more  than  19  out  of  20  people  who 
subscribe  to  the  Rare  Coin  Review  renew  after 
their  subscription  expires— an  unheard  of  high 
rate.  So,  we  must  be  doing  something  right. 
However,  there  still  is  the  occasional  person  who 
does  not  renew— plus  a  greater  number  of  peo¬ 
ple  who  are  sent  sample  copies  of  our  Rare  Coin 
Review  from  time  to  time  but  do  not  elect  to 
subscribe.  Why  not  "jump  on  the  bandwagon" 
and  renew  or  subscribe  today?  Lots  of  mighty 
good  reading  is  on  tap  for  you! 


A  Special  Offer  to  Help  You  Get  Acquainted  with  British  Coins 


As  we  all  know,  the  British  Colonial  empire  at  one  time  reached  to  the  far  corners  of  the  globe.  As 
a  result  the  otherwise  familiar  portraits  of  British  rulers  are  found  on  some  very  strange  and  exotic  coins. 

One  of  the  most  unusual  of  these  colonial  issues  is  the  one-third  farthing.  At  various  times  from  1827 
through  1913  this  curious  little  denomination  was  struck  to  be  used  on  the  island  of  Malta.  The  reason 
for  the  seemingly  unwieldy  denomination  was  that  this  coin  corresponded  to  the  Maltese  grano  or 
1/12  penny  and  therefore  was  convertible  into  native  currency. 

With  the  help  of  an  overseas  friend  we  have  been  able  to  obtain  a  small  quantity  of  one-third  far¬ 
things  dated  1902.  This  particular  issue  has  added  significance  because  it  is  a  one  year  type  coin  and 
the  only  coin  of  this  denomination  to  bear  the  portrait  of  Edward  VII. 

The  specimens  we  offer  for  sale  will  grade  Select  BU,  MS-63  and  are  nearly  full  mint  red  with  attrac¬ 


tive  light  toning. 

One  1902  one-third  farthing  Select  BU,  MS-63  for  just . 15.95 

Buy  a  group  of  five  for  the  package  price  of . 69.00 

Purchase  a  group  of  ten  from  this  small  hoard  for  only . 119.00 


We're  certain  that  you'll  be  delighted  with  these  beautiful  little  coins  and  that  they  will  become  an 
interesting  addition  to  your  collection. 


-54- 


NOTES  FROM  RAY  MERENA  *****  NOTES  FROM  RAY  MERENA  *****  NOTES  FROM  RAY  MERENA 


The  November  auctions  held  by  our  affiliated  firm,  Auctions  by  Bowers  and  Merena, 
Inc.  -  the  Emery-Nichols  Collections  (November  12th  and  13th)  and  the  Lee  F.  Hewitt 
Collection  (November  14th)  -  saw  many  records  smashed  for  the  current  market.  Three 
days  of  enthusiatic  bidding  produced  over  $4,200,000  worth  of  sales  -  making  the 
event  one  of  the  greatest  in  numismatic  history.  While  an  1876-CC  20c  piece  (which 
cost  S.  Benton  Emery  all  of  $12  back  in  the  year  1900!)  took  top  honors  at  $66,000 
when  it  sold  to  a  private  collector,  not  to  be  sneezed  at  were  the  $6600  fetched 
by  a  Proof-67  1911  quarter,  the  $30,800  brought  by  the  Proof  1895  dollar,  and  other 
figures.  Nearly  everyone  who  attended  came  away  feeling  "good"  about  numismatics 
and  about  the  current  market. 

Inflation  has  fueled  coin  price  increases  in  the  past,  and  when  inflation  recurs, 
no  doubt  today’s  prices  will  be  left  far,  far  behind.  While  it  is  human  psychology 
that  many  buyers  like  to  buy  in  a  sharply  rising  inflationary  market,  the  record 
shows  clearly  that  the  greatest  profits  have  been  made  by  those  who  have  purchased 
when  the  market  was  "quiet."  Right  now,  early  in  1985,  is  an  ideal  time  to  buy,  in 
my  opinion.  There  are  many  nice  coins  available,  and  the  prices  in  many  instances 
are  considerably  less  than  you  would  have  had  to  have  paid  a  few  years  ago  and,  who 
knows,  perhaps  much  less  than  they  will  be  a  few  years  from  now. 

Tom  Becker  has  been  keeping  the  well-known  Bowers  and  Merena  Galleries  checkbook 
busy  and  has  been  buying  collections,  estates,  and  other  properties.  While  many  of 
the  items  in  our  inventory  are  listed  on  the  preceding  pages  of  this  "Review"  copy, 
there  are  always  new  things  which  didn’t  make  the  printing  deadline.  These,  plus 
other  inventory  items,  are  available  for  some  special  packages.  Tom  and  I  will  make 
up  any  one  of  these  packages  to  your  order.  Each  package  will  be  itemized  on  your 
invoice,  and  each  package  comes  with  a  30-day  money-back  guarantee  of  satisfaction. 
Take  your  pick  of  these: 

STARTER  COLLECTION  OF  MORGAN  DOLLARS,  no  duplicates,  various  issues  MS-60  to 
MS-63/65,  $1200+  regular  value,  just  $1000  net;  STARTER  COLLECTION  OF  LIBERTY 
WALKING  HALVES,  no  duplicates,  various  issues  MS-65,  $1200+  regular  value,  just 
$1000;  STARTER  COLLECTION  OF  COMMEMORATIVE  HALVES,  various  different  issues  MS-63 
to  MS-65,  $1200+  worth  for  just  $1000;  SILVER  DOLLAR  "GRAND  SLAM"  PACKAGES,  each 
with  MS-63  to  MS-65  dollars,  some  duplicates,  to  "put  away"  for  the  future: 

$1200+  worth,  $1000;  $6000+  worth,  $5000;  $12,000+  worth,  $10,000;  $30,000+  worth, 
$25,000.  "GOLD  HOARDER'S  SPECIAL"  with  mixed  late  19th  and  early  20th  century 
gold  coins,  MS-60  to  MS-63,  $10  and  $20  denominations  -  I'll  make  up  packages 
which  represent  about  a  10%  reduction  from  our  regular  prices.  Packages  available 
for  $5,000,  $10,000,  $25,000,  and  $100,000.  Note:  As  each  package  mentioned  in  this 
paragraph  is  custom-assembled,  please  allow  a  week  or  two  for  Tom  and  me  to  do  it! 

Numismatic  books  are  "where  it  is  at,"  as  they  say,  and  in  this  issue  you'll  find 
more' nifty  books  than  ever  before.  Check  our  book  listing  carefully  and  order  what¬ 
ever  appeals  to  you.  Look  at  a  successful  numismatist  or  coin  investor  and  you  will 
be  looking  at  a  person  with  a  numismatic  library.  Do  you  have  a  numismatic  library? 
If  not,  this  issue  gives  you  the  opportunity  for  a  fine  beginning! 

Last  year  was  the  best  year  in  our  history,  for  which  I  gratefully  say  Thank  You. 
All  of  us  here  at  Bowers  and  Merena  Galleries  appreciate  your  business.  During  1985 
we'll  do  our  very  best  to  break  our  1984  record  -  and  we'll  do  our  best  to  continue 
bringing  you  the  coins  you  want  in  the  grades  you  want  and  at  the  prices  you  want 
to  pay ! 


-55- 


When  Great  Collections 

are  Sold 


Jb 

Bowers  and  Merena 

Galleries 

Sells  Them 


Bowers  and  Merena  Galleries 

Box  1224 

WOLFEBORO,  NH  03894 
(603)  569-5095